Walt Disney Chairman and CEO Bob Iger has been selected by the National Football League’s San Diego Chargers and Oakland Raiders to head their proposed stadium project in the Los Angeles suburb of Carson.
Iger, who will remain in his Disney posts, will serve as the non-executive chair of the joint venture Carson Holdings. In that role, he will select a president who will oversee stadium design, naming rights and fan experience.
The appointment was announced Wednesday. The NFL is holding committee meetings at its headquarters in New York City and is scheduled to hear presentations from the cities of San Diego, St. Louis and Oakland about why those markets should keep their teams.
The Los Angeles area has been without an NFL franchise since 1994, when the Rams departed for St. Louis and the Raiders returned to Oakland. The city of Carson, already home to the L.A. Galaxy’s StubHub Center stadium, has been seeking to build a stadium that would house the Chargers and Raiders. St. Louis Rams owner Stan Kroenke is part of a competing group seeking to build an 80,000-seat stadium for the Rams in the suburb of Inglewood.
Carson Holdings said Iger’s work on its behalf would be contingent upon NFL owners approving the site at Carson as the new home of the NFL in Los Angeles.
“Mr. Iger will continue to serve as chairman and CEO of the Walt Disney Company under the terms of his contract,” the group said. “The agreement between Mr. Iger and Carson Holdings makes clear that Mr. Iger will not be required to provide services to Carson Holdings, which conflict with his Disney duties and obligations.”
Iger’s appointment is for five years with annual compensation of $1.
“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,” said Iger. “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.”
Should the Carson proposal be approved, Iger can buy a minority stake in either the Chargers or Raiders — but only if he’s no longer with Disney. NFL rules would prohibit him from owning stakes in both teams.
“Iger has committed not to exercise his option until he departs his role as Disney’s chairman and CEO,” Carson Holdings said.
His specific duties will include selecting a president for the organization, who will guide “the design and construction of the stadium, the fan experience on game day, the marketing of the stadium to the Los Angeles region, the branding of the location and venue, and the successful reentry of professional football into the Los Angeles marketplace.”
In October, 2014, Iger extended his Disney contract as chairman-CEO to the end of June, 2018.