"The legal battle between the University of California, Los Angeles, the City of Pasadena and the Rose Bowl Operating Company continues as the school mulls potentially abandoning its lease to play football at the Rose Bowl. The school is reportedly looking to decamp to SoFi Stadium in Inglewood to take advantage of its proximity to the university campus as well as increased revenue generation opportunities with more premium seating and luxury suites."
"UCLA's lease states that the school can abandon its agreement early only in the case of a game-threatening default, or an immediate issue that would keep the team from playing at the stadium, the Los Angeles Times reported. Under its current lease, the UCLA Bruins cannot play its home football games in another stadium in Los Angeles or Orange Counties through June 2044, according to the New York Times."
"The City of Pasadena and Rose Bowl Operating Company filed its lawsuit against UCLA in October, adding SoFi Stadium and SoFi site owner Kroenke Sports & Entertainment to the lawsuit last month. The plaintiffs sued the Regents of the University of California to compel UCLA to honor its contract. A breach notice from UCLA as required under its contract could have given the City of Pasadena a chance to address any alleged deficiencies or operational concerns."
UCLA is considering abandoning its long-term lease to play football at the Rose Bowl and exploring a move to SoFi Stadium in Inglewood for closer campus proximity and greater premium seating revenue. The Rose Bowl Operating Company and the City of Pasadena did not violate the lease before UCLA began considering the move. The lease permits early abandonment only for a game-threatening default or an immediate issue preventing play. The current lease bars UCLA from playing home games elsewhere in Los Angeles or Orange Counties through June 2044. Pasadena and the Rose Bowl entity sued to compel UCLA to honor the contract, and no contractual default has been asserted by UCLA.
Read at therealdeal.com
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