Bob Iger – chairman and CEO of Walt Disney (NYSE:DIS) – is reportedly becoming chairman of the joint effort by the San Diego Chargers and Oakland Raiders to build a Los Angeles-area stadium. He has joined the Carson effort on a five-year basis with an automatic two-year renewal option.
Advertisement
Should Carson win the bid, Iger will have a hand in almost every facet of the new stadium’s construction. According to La Canfora, numerous owners were already behind the Carson deal prior to the Iger news, though power players such as Jerry Jones were firmly in the Inglewood camp. Previously, the mood among the folks who run the sport was that the Raiders should stay in Oakland – unless owner Mark Davis sells the team or involves a partner with sufficient business acumen to help the franchise thrive in L.A. If Iger buys a piece of the Raiders, Iger could be the guy who helps Davis properly run the team in a more competitive market. Carson is in the south Los Angeles area, southeast of LAX and West of Disneyland home Anaheim.
If it happens, Iger could purchase a portion of either the Chargers or Raiders for himself.
It’s hard to imagine Iger, who is very well thought of by Commissioner Roger Goodell and who has addressed owners at league meetings in the past, taking on such a prominent role in a project as substantial as this without having a strong sense that it would indeed be constructed. Carmen Policy, Carson Holdings’ executive director, told the Times Iger will be the “visionary force” behind the project. He has the option to acquire a minority, non-controlling equity stake in either the Chargers or Raiders, though he has agreed to not exercise that option until he leaves Disney. And should Mark Davis be able to come to terms with a partner of a few magnitude that, too, would likely only further bolster the overall strength of this stadium plan.
For now, Iger will be the point man in tapping into all the various Los Angeles revenue streams – from naming rights to development to entertainment for, in and around the stadium.
Advertisement
Iger has made it known he intends to retire from Disney when his contract expires.
