Financing the Coliseum Renovation
A frequent topic of conversation at USC games this season has been the school’s plans for renovating the Coliseum. With the athletic department sending out a questionnaire to donors and season ticket holders this past summer, many people have become concerned about the possibility of personal seat licenses (PSL’s) being used to finance the improvements. USC, under its agreement with the city, county, and state governments, is required to spend at least $70 million on improvements to the Coliseum. However, in looking at other stadiums that have recently been renovated in the PAC-12, it becomes clear that this number will likely be much bigger. The University of Washington spent $280 million for a gut renovation of Husky Stadium that opened last season. The Rose Bowl spent $170 million on renovations that were largely tied to infrastructure and premium seating. The Coliseum is in worse condition than both of these venues were before they began their projects. In the past decade, c...