In an agreement that is expected to be the most lucrative in college football, United would acquire the naming rights to the Los Angeles Memorial Coliseum.
On Thursday, Sports Business Daily reported that, though a contract had yet to be signed, United had an agreement in place for a 15-year naming rights deal that is worth more than $70 million. If that agreement comes to fruition, United would pay $4.7 million annually for L.A. Coliseum naming rights, a higher price tag than Alaska Airlines pays as part of its 10-year, $41 million agreement with the University of Washington.
As part of a partnership with USC, Fox Sports has been shopping the naming rights for the L.A. Coliseum as the university moves forward with a multi-phase renovation that will modernize the venue (a rendering of that project is shown above). If the naming rights deal is completed, it will help USC cover some of the costs associated with the project. More from Sports Business Daily:
The revenue from a naming-rights deal is expected to help offset costs of the $270M renovation to the Coliseum, school officials have said. The renovation, which is in the early stages, is supposed to be completed in time for the ’19 football season. How United’s brand name will be attached is not clear, but school and Fox officials in the past have said “Memorial Coliseum” would be retained in the name.
Having opened in 1923, The L.A. Coliseum one of the most iconic venues of its kind and the renovation should ensure that it remains a viable venue over the long run. Along with being home to USC, the L.A. Coliseum is slated to continue hosting the Los Angeles Rams on a temporary basis through the 2019 NFL season.