LOS ANGELES (AP) — The University of Southern California has won a state board’s approval to take control of the Los Angeles Memorial Coliseum for nearly a century.

The Los Angeles Times says the governing board of the California Science Center – the Coliseum’s landlord – voted Tuesday to adopt basic terms of a 98-year lease.

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USC will get most revenues from the historic arena, where it holds football games. The school will pay $1 million in annual rent to the state and will spend at least $70 million to upgrade the stadium over a decade. USC also gets the option to tear down the neighboring Sports Arena.

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The deal still requires approval from the Science Center board and two state agencies.

Spokesman Thomas Sayles says USC could take over this summer.

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