Image: Los Angeles Memorial Coliseum's entrance

The University of Southern California (USC) is to take over the day-to-day management of the Los Angeles Memorial Coliseum, US, after a lease agreement was given the green light.

The board of the Los Angeles Memorial Coliseum Commission voted eight-to-one in favour of revised terms, which follows the collapse of a previous agreement four years ago.

USC is now poised to invest US$70m (EUR55m, £44m) in overhauling the 93,000-capacity stadium, which is already used by its representative athletic teams - the USC Trojans.

"We look forward to restoring the Coliseum to its former glory and ensuring its viability for many generations to come," said USC senior vice president for university relations Thomas S Sayles.

The lease agreement - due to run until 2054 - remains subject to state approval, although the institution hopes to complete the deal in the near future following the commission's decision.

Details: www.usc.edu

Image: Los Angeles