Add stadium hunter to Disney chief Bob Iger’s long list of duties.
The Disney chairman and CEO has agreed to serve as non-executive chairman of Carson Holdings, a joint venture of the National Football League Oakland Raiders and San Diego Chargers to build a new stadium in Carson, Calif., about 15 miles south of Los Angeles.
As non-executive chairman, Iger would be the project’s strategic leader, would select a president for Carson and would have the option of acquiring a minority ownership stake in either team. Iger has agreed not to exercise that option until he is no longer Disney chairman and CEO.
Iger will remain chairman and CEO of Disney and his agreement with Carson Holdings – a five-year stint at a salary of $1 per year with an automatic two-year renewal – stipulates that he will not be involved in any dealings that would conflict with his duties at Disney. Iger signed an extension to his Disney employment contract in October, making him chairman and CEO through June 30, 2018. At that time, the Disney board would select a new CEO, most likely chief operating officer Thomas Staggs, named to that position in February, who appears to be Iger’s choice for a successor.
In February, the Raiders and Chargers proposed building a $1.7 billion stadium in Carson should they not get a stadium deal in their home markets. The Carson project is in competition with St. Louis Rams owner Stan Kroenke’s $1.86 billion stadium proposal in nearby Inglewood.
The news of Iger’s appointment comes as the cities of Oakland, St. Louis and San Diego make their pitch at NFL headquarters in New York today [Nov. 11] to keep the teams in their respective areas.
"Should the owners approve the move, Los Angeles will proudly welcome two incredible teams to our community and build a stadium worthy of their fans," Iger said in a statement. "L.A. football fans will enjoy unprecedented access to games during the season, in a state of the art stadium designed to deliver the most entertaining, exciting and enjoyable experience possible."
