Coliseum Commission unanimously approves long-term lease for USC

Sam Farmer Los Angeles Times

In a special meeting this morning, the Coliseum Commission voted unanimously to approve a long-term lease that will keep USC playing football at the historic stadium for decades to come.

The agreement now goes to the USC finance committee, which will vote Wednesday on whether to give the school's final approval.

It is the first long-term agreement in a relationship between USC and the Coliseum that spans more than 80 years. The 25-year lease can be extended to 47 years.

"It's great that it's done," said Pat Lynch, general manager of the Coliseum. "We can look forward to a long and bright future together."

The proposed pact gives USC veto power over an NFL team returning to the Coliseum, and provides the school seats on the California Science Center Board and the Coliseum Commission.

In exchange, USC will allow the commission to use the school's name and logos as the centerpiece of a future naming-rights deal. The money generated would be earmarked for stadium improvements, including new video displays, concession areas, seating, drainage systems, locker rooms, elevators and escalators.

The document also says that if the commission fails to make the promised improvements in a timely and satisfactory manner, the school can opt out of the agreement after two years. USC would have the right to pay for the improvements itself and be repaid with interest.

The structure of the proposed deal was announced in mid-February as part of a celebratory news conference that included the Trojans marching band and football Coach Pete Carroll.