The Coliseum sits across the street from the main USC campus, in Exposition Park, a quick 10 minute walk. Here are some excerpts from a Wikipedia post on USC's 98 year lease on the Coliseum (full link below):
"Under the lease the University has day-to-day management and operation responsibility for both the Coliseum and Sports Arena properties. The 98-year lease took effect on July 29, 2013, and was signed by the parties on September 5, 2013. The agreement requires the University to make approximately $100 million in physical improvements to the Coliseum, pay $1 million each year rent to the State of California, maintain the Coliseum's physical condition at the same standard used on the USC Campus, and assume all financial obligations for the operations and maintenance of the Coliseum and Sports Arena Complex.
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https://en.wikipedia.org/wiki/Los_Angeles_Memorial_Coliseum