Los Angeles Memorial Coliseum to be renamed United Airlines Memorial Coliseum

EXPOSITION PARK, LOS ANGELES (KABC) -- The Los Angeles Memorial Coliseum is getting a new look and a new name.

A groundbreaking ceremony Monday marked the official beginning of a massive $270 million renovation project. Also at the ceremony, United Airlines confirmed its purchase of naming rights for the venue.

Under the 16-year naming-rights deal, the stadium will be known as United Airlines Memorial Coliseum, beginning in August 2019.

The new plans call for an overall reduction in seating capacity from 93,607 to about 77,500. All of the seating will be replaced, and new lighting and concession stands will be added. Also, a new area on the south side will feature suites and a press box.

The stadium is home to the USC football team, as well as the temporary home to the Rams. The Rams will move to its stadium in Inglewood in 2020.

"The university has a time-honored commitment to the Coliseum, serving as its longest enduring tenant," USC President C.L. Max Nikias said at Monday's ceremony. "USC is honored to be the caretaker of this Los Angeles treasure. Together with United, we can ensure the Coliseum's future as a world-class venue and true community asset."

The renovation project is not expected to impact the Trojans' 2018 home football season, and it is expected to be completed in time for the team's 2019 home opener.

The Los Angeles Memorial Coliseum was built in 1923 and last underwent substantial renovations 20 years ago when $93 million was spent to repair damage from the 1994 Northridge earthquake. The stadium has hosted two Olympics, two Super Bowls, a World Series, a papal Mass and visits by three U.S. presidents.

City News Service contributed to this report.