The stadium serves as the home to the University of Southern California (USC) Trojans football team of the Pac-12 Conference. USC, which operates and manages the Coliseum, granted naming rights to United Airlines in January 2018; after concerns were raised by Coliseum Commission, the airline became title sponsor of the playing field, naming it United Airlines Field at the Los Angeles Memorial Coliseum. The stadium is located in Exposition Park, which is owned by the State of California, and across the street from USC. The Coliseum is jointly owned by the State of California, Los Angeles County, City of Los Angeles and is managed and operated by the Auxiliary Services Department of the University of Southern California.
USC began a major renovation of the stadium in early 2018. During the renovation project the seating capacity was 78,467 and became 77,500 upon completion in 2019. The $315 million project was completed by the 2019 football season and was the first major upgrade of the stadium in twenty years. The project included replacing the seating along with the addition of luxury boxes and club suites.
The Coliseum is primarily the home of the USC Trojans football team and the temporary home of the Los Angeles Rams (until their new stadium is completed). Most of USC's regular home games, especially the alternating games with rivals UCLA and Notre Dame, attract a capacity crowd. The current official capacity of the Coliseum is 77,500 with 42 suites, 1,100 club seats, 24 loge boxes, and 500-person rooftop terrace. USC's women lacrosse and soccer teams use the Coliseum for selected games, usually involving major opponents and televised games. USC also rents the Coliseum to various events, including international soccer games, musical concerts and other large outdoor events.
The Los Angeles Memorial Coliseum Commission, which consists of six voting members appointed by the three ownership interests and meets on a monthly basis, provides public oversight of the master lease agreement with USC. Under the lease the University has day-to-day management and operation responsibility for both the Coliseum and Banc of California Stadium properties. Up until 2013, USC had a series of mostly one- and two-year leases with the commission. In July 2013, USC gained the master lease of the Coliseum, after the previously governing owner Coliseum Commission failed to deliver promised renovations. The 98 year long agreement requires the University to make approximately $100 million in physical repairs to the Coliseum and in addition requires USC pay $1.3 million each year in rent to the State of California for the state owned land the Coliseum property occupies in Exposition Park, 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 Banc of California Stadium Complex.