In June, the governing board of the California Science Center unanimously approved the final part of a lease agreement for the Los Angeles Memorial Coliseum, clearing the way for USC to operate and restore the historic landmark. The deal was given final approval Wednesday night, allowing for an official signing ceremony to grant nearly all of the Coliseum's revenue for the next century to the University of Southern California.
The agreement ensures that the Coliseum will remain the home of Trojan football for 98 years. The deal also guarantees a restored public stadium for all Angelenos as USC committed to make at least $70 million in renovations. USC will also manage the operations of the Sports Arena in Exposition Park moving forward.
"We've worked hard to preserve this incredible institution," Los Angeles County Supervisor Don Knabe, president of the Coliseum Commission, told the Science Center board Wednesday. "It's a big day for all of us." - Via the Los Angeles Times
Esteemed Members of the USC and California Science Center Community will make the deal official including Fabian Wesson, chair of the California Science Center Board of Directors for the state of California representing the former owner alongside C. L. Max Nikias, president of the University of Southern California.
With possible incentives surrounding the additional take over of the Los Angeles Sports Arena, USC holds a key piece of property in the South Los Angeles sports landscape. At the end of the day, the deal will be officially in place and the University of Southern California will celebrate #WePlay125 with ownership of their prestigious home for USC Football since the 1923 season.