The general manager of the Los Angeles Memorial Coliseum and Sports Arena suggested to a legislative committee Friday that if the Coliseum is to be brought up to the standards of modern-day stadiums, a public subsidy may be necessary, even if the complex is placed under private management.
Joel Ralph told a hearing of the bonds and public investments panel headed by Assemblyman Mike Roos (D-Los Angeles) that the Coliseum complex is “solvent” now in the sense that it is not losing money. But, he said, there is no money available for sufficient maintenance to make sure the Coliseum does not fall into disrepair.
After the hearing, Irving Azoff, head of MCA Inc.'s Music Entertainment Group, a member of the business partnership that is negotiating a private management contract with representatives of the Coliseum Commission, agreed that funds will be needed, beyond what the private firms will provide, to renovate the Coliseum.
“Parts of the stadium are not livable now,” Azoff said.