Los Angeles Memorial Coliseum Commission and USC Ink Deal Keeping the Trojans in...

Los Angeles Memorial Coliseum Commission and USC Ink Deal Keeping the Trojans in the Historic Venue for 47 More Years

Deal Includes the Sale of Naming Rights and $100 Million-plus in
Improvements
LOS ANGELES--(Business Wire)--
A historic agreement was reached at today's Los Angeles Memorial
Coliseum Commission (LAMCC) meeting as the LAMCC and the University of
Southern California (USC) signed a deal that will keep USC at the
Coliseum for another 47 years. As part of the agreement, naming rights
to the Coliseum will be sold to help generate more than $100 million
in improvements to the historic landmark.

As a foundation to the deal, the LAMCC signed a 47-year agreement
with the State of California for $1 million-plus per year for the land
under the Coliseum. USC signed a 25-year tenant agreement with the
LAMCC that includes paying 8 percent of ticket sales to the Coliseum
as rent. The agreement is renewable for an additional 22 years. USC
has an 80-year history as a tenant of the Coliseum, which has served
as home field to the powerhouse Trojan football program.

The LAMCC and USC will work in partnership to sell naming rights
to the Coliseum for an anticipated $4 to $6 million per year. Every
dollar generated through the corporate naming rights will be used for
improvements to the Coliseum. Over the course of the first 25 years of
the agreement, naming rights are expected to generate more than $100
million that will be reinvested in the Coliseum.

Improvements to the Coliseum will focus primarily on enhancing the
fan experience. The top five immediate improvements to be made
include:

1. New video board

2. More public restrooms

3. More concession stands

4. New seats

5. New locker rooms

Work on the improvements will begin immediately with major work to
be performed during the off-season to avoid interruptions to USC games
at the Coliseum.

ABOUT THE LOS ANGELES MEMORIAL COLISEUM COMMISSION

The Coliseum and Sports Arena are under the authority of the Los
Angeles Memorial Coliseum Commission (LAMCC), which was formed under
the Joint Exercise of Powers Act on September 25, 1945. Although this
governing body is comprised of representatives from the City of Los
Angeles, County of Los Angeles and State of California, no taxpayer
funds are used to support the facilities. The complex is supported
solely by revenue generated from these two facilities. The LAMCC owns
the Coliseum. The land under the Coliseum is owned by the State of
California.

LAMCC
Jon Lee, 213-765-6357

Copyright Business Wire 2008