USC has been playing in the Los Angeles Coliseum since the building was opened in 1923, though they've never owned the place. The building belongs to the state of California, the county and the city. Still, after being the stadium's tenant for 87 years, it seems that USC has finally decided that it's better to own than to rent.
Which is why USC is now in negotiations with the state to buy the land that the Coliseum and the Sports Arena currently sit on.
"USC has a vested interest in preserving the Coliseum," said Kristina Raspe, the school's associate senior vice president of real estate and asset management. "This enables us to work more closely with the Coliseum Commission to ensure the success of the venue."
Raspe said the school is also in negotiations to buy several parking lots in Exposition Park, although the museums and the surrounding lots are not part of the talks.
So, essentially, instead of being the building's tenant, USC would be the landlord. Though they wouldn't own the place outright, either. Part of the reason the school wants to own the land is so it can use the parking lot during weekdays to help alleviate a parking shortage around the school. Still, the school wouldn't have the ability to make any renovations to the stadium, as that would still fall on the Coliseum Commission, though it would have more of a say in what kind of renovations need to be made.