Disney CEO to oversee L.A. stadium initiative for Raiders and Chargers

1:03 | NFL
Disney CEO Bob Iger to be named chairman of Raiders, Chargers, Rams relocation group
Wednesday November 11th, 2015

Disney CEO Bob Iger has been chosen to head the Oakland Raiders and San Diego Chargers’ initiative to build a stadium in Los Angeles, reports CBS Sports’ Jason La Canfora.

Iger, 64, will be the non-executive chairman of the two teams’ joint company, Carson Holdings LLC. In the role, he will spearhead stadium design, naming rights, fan experience and the Carson, Calif. facility’s construction and operation. The NFL owners must approve the stadium plan before Iger can officially assume his role.

“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.

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Officials from both teams are meeting with NFL owners Wednesday to discuss the potential move and project approval.

Iger, who signed a five-year deal with a two-year renewal option, will be paid just $1 per year if the project is approved, but will have the option to purchase a minority stake in both teams once he departs from Disney.

Iger is under contract with Disney until 2018, and will remain the chairman and CEO of the company until his current deal expires.

Los Angeles has not had an NFL team since 1995, when the Raiders moved back to Oakland and the Rams moved to St. Louis.

Any team that wants to relocate requires approval from two-thirds of the league’s owners. The next opportunity for a franchise to file for relocation is January 2016.

- Kayla Lombardo

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