Bob Iger has too much spare time? Seems that way, as he agreed today to add to his responsibilities as Disney’s Chairman and CEO by also becoming Non-Executive Chairman of Carson Holdings. This is the joint venture by the Oakland Raiders and San Diego Chargers that seeks to build a stadium for them at a 168-acre site in the city of Carson that would bring NFL football back Los Angeles for the first time in 20-plus years.
They will present their visions today at a meeting in New York of the NFL’s Committee on Los Angeles Opportunities, according to CBS Sports, which first reported the news about Iger. A vote is expected in January.
Iger says that if the NFL approves the Carson plan, then “Los Angeles will proudly welcome two incredible teams to our community and build a stadium worthy of their fans. LA 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.”
Iger’s agreement says he won’t have to provide services that “conflict with his Disney duties and obligations.” He would serve for five years, with an automatic two-year renewal option.
Iger, who made $46.5 million at Disney in 2014, will only be paid $1 a year by Carson. But he’ll have an option, if the NFL approves, to buy “a minority, non-controlling equity ownership interest in one of either the Raiders or Chargers.” He won’t pull the trigger until at least 2018 when he leaves Disney.
At Carson, Iger will hire a president who will handle the day-to-day work. That includes “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.”