LA Coliseum fails to make $500,000 rent payment

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Updated: 1/16/2013 12:30 pm

LOS ANGELES (AP) — The state says the Los Angeles Memorial Coliseum Commission has failed to make a $500,000 rent payment.

The Los Angeles Times says the stadium's landlord, the California Science Center, delivered the past due notice on Monday. News of the default was made public Tuesday.

The Coliseum could run out of money by the end of March. The rent money is used to pay for public safety and maintenance of Exposition Park. It also supports the Science Center and California African American Museum.

The commission wants to turn stadium management over to the University of Southern California but negotiations are stalled.

The lease says if the bill isn't paid after two years' written notice, the commission will have to surrender the stadium.

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Information from: Los Angeles Times, http://www.latimes.com

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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