USC Eyes Coliseum Land

The Los Angeles Memorial Coliseum and the Los Angeles Sports Arena could soon have a new landlord following talks of a sale between the state and the University of Southern California.

USC recently entered negotiations to buy the land that houses the facilities, which would also give the school a say when it comes to the Coliseum Commission that oversees them, a USC official told the Los Angeles Times.

“USC has a vested interest in preserving the Coliseum,” said associate VP of real estate Kristina Raspe. “This enables us to work more closely with the Coliseum Commission to ensure the success of the venue.”

The university has also reportedly been looking to purchase several parking lots in the area to ease daytime traffic congestion at the campus.

Gov. Arnold Schwarzenegger has been trying to sell off several state-owned properties including the Coliseum since January in efforts to help close the state’s huge budget shortfall.