Can Disney’s CEO Help Make a Los Angeles NFL Team Happen?

November 13, 2015, 12:43 AM UTC
Photograph by Wesley Mann for Fortune

Walt Disney Co. CEO Bob Iger has teamed up with the National Football League’s Oakland Raiders and San Diego Chargers to try to build the teams a stadium in a Los Angeles suburb, backers of the project said in a statement on Wednesday.

Iger has been named non-executive chairman of Carson Holdings, the joint venture between the two teams that is working with the city of Carson, Calif, on a project to build a stadium in the city.

He will continue as Disney‘s (DIS) chairman and CEO, and will not be required to do anything that conflicts with that role, the statement from Carson Holdings said.

Iger, one of the most powerful executives in Hollywood, could have the clout to attract major sponsors for the stadium project. His hiring represents a boost to the effort to bring the two National Football League teams to Carson.

The Chargers and the Raiders are seeking to gain support for their plan from NFL owners. The owner of the St. Louis Rams has been pursuing a rival proposal to build a stadium in Inglewood, just north of Carson, and relocate his team there.

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The announcement of Iger’s role on behalf of the Chargers and the Raiders came on the same day those two teams and the Rams presented their proposals to relocate to the Los Angeles area to NFL leaders in New York.

The Los Angeles region, the second-largest market in U.S. sports, has been without an NFL team since 1995, when the Rams left Anaheim for St. Louis and the Raiders returned to their previous home of Oakland.

Iger, who will receive a salary of $1 a year in his position with Carson Holdings, will have an option once he departs his role at Disney to acquire a minority share in either the Raiders or the Chargers, said the statement from Carson Holdings.

One of his main tasks is expected to be hiring the president of Carson Holdings.

“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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