EXPOSITION PARK (CBSLA.com) — The University of Southern California and various local and state government officials Thursday signed off on a lease agreement that keeps USC as the primary tenant of the Los Angeles Memorial Coliseum for the next 99 years.

The public-private partnership, which took two years to finalize, allows the university to select a management team that will help transform the historic site into a 21st century stadium.

USC is pledging $75 million in upgrades to the Coliseum’s infrastructure over the next eight years.

“It’s Fight On! right? But I’m thinkin’, you know, it started out, the fight is on,” Supervisor Don Knabe joked.

The Coliseum is the only stadium to host two Olympic games, in 1932 and 1984.

The Coliseum, which is owned by the city, county and state, was declared a National Historic Landmark the day before the Summer Olympics commenced on July 27, 1984.

The USC Trojans host the Washington State Cougars Saturday at 7:30 p.m. in their 2013 home opener.


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