This didn't came across most of our radars last week as we were most wrapped up with following UCLA's undefeated run through CWS. The state of California is giving away the Coliseum to Southern Cal - basically for free (emphasis added)
A state board approved a sharply debated deal Tuesday that grants USC control of the Los Angeles Memorial Coliseum and nearly all of the revenues from the taxpayer-owned stadium for the next century.
The governing board of the California Science Center, the Coliseum's landlord, voted 7 to 0 to adopt the basic terms for the lease agreement that extends to the private university most of the benefits of owning the historic venue without requiring the school to buy it.
The lease will become effective after the state Department of General Services and the California Natural Resources Agency approve a final document and the Science Center board ratifies it. The package could require Sacramento to reimburse two public museums next to the Coliseum for money they might lose to USC because the school will be permitted limited use of their parking lots at a lower price.
Under the lease, USC also has the option to tear down the neighboring Sports Arena and replace it with a soccer stadium or amphitheater. The school has talked with Major League Soccer about building a stadium on the site, possibly for Chivas USA.
Critics have labeled the overall agreement, which grew out of a corruption scandal at the Coliseum Commission, a giveaway to USC that fails to guarantee the public enough money.
Now Southern Cal says they will make some investments in renovating that eyesore. The deal will reportedly require the Trojies to spend "at least $70 million on upgrades" to the facility and the glorified JC will also pay the Coliseum Commission's $1 million yearly rent payment to the state. But they will get to retain all ticket and concessions from football games and "as much as 95% of the naming rights and other advertising proceeds from the properties."
I guess I don't really feel strongly about this issue one way or another. The stadium is garbage and will always be garbage no matter how much they spend on it. And, it will be interesting to see the amount of revenue they generate in the coming years with the Visor leading the program. While many think the Visor is on the "hot seat" or something, I have a feeling the genius will win enough games to earn himself another season.
The only thing the matters for us in this story is for our football team go down this year and take care of business. Not only should UCLA beat the Trojies on November 30, this year the Bruins should leave no doubt buy burying those clowns in that waste dump.