Bob Iger is a name many (if not most) Disney fans are likely very familiar with.
Iger has had a long career in Disney in various roles, eventually serving for several years as the Company’s CEO and most recently as executive chairman of the Board of Directors. It has long been known that Iger would be stepping down from his role as chairman in 2021. Just yesterday, Iger’s replacement on the board was announced. And today, the Iger news continues!
In an interview with Iger done by SirusXM Business Radio host Alan Fleischmann, which was released back in March of 2021, Iger discussed a number of things including Disney+ being a beacon of hope, the reopening of Disneyland, and his work in the company.
Iger also talked a bit about his plans for the future and what he hopes to do in his life after Disney. When asked about whether he’d be retiring, Iger said no way. But, he did say that he would be looking forward to have a little bit more leisure and more adventure, “whatever that is.”
As we mentioned above, Iger is set to retire as chairman of the board of directors for the Disney company at the end of this year. That was further confirmed in March of this year, and is something that has been in the works for a while. In fact, Iger’s original plans would have had him stepping down in 2018, but those plans were extended twice.
Iger’s replacement has already been announced, and now it seems like he might be getting started on some of that “adventure” he has planned for the future.
According to Front Office Sports (which was then cited by Yahoo and other news sources), “reports have emerged that former Disney CEO Bob Iger is interested in buying” the Phoenix Suns basketball team.
This report comes just as the NBA is investigating Robert Sarver on claims of racism and misogyny. Sarver owns about 35% of the Suns. The NBA investigation should continue over the next few months.
Yahoo notes that the NBA Constitution bylaws state “‘Membership of a Member or the interest of any Owner may be terminated by a vote of three fourths (3/4 or 75%) of the Board of Governors’ for a number of violations.” Yahoo also points out another provision that might apply in light of the accusations.
Front Office Sports notes that the Phoenix Suns were recently valued at $1.8 billion by Forbes. Sarver bought the team back in 2004 for about $401 million. The team could sell for more than $2 billion though.
The Phoenix Suns actually made it to the NBA Finals last season, but lost to the Milwaukee Bucks. Front Office Sports notes, however, that nothing is official as of this time. And, even if the team does go up for sale, co-owners of the franchise will have the right of first refusal.
From CEO to basketball team owner? It’s certainly possible and Iger wouldn’t be the first big name in entertainment or business to buy a sports team. Again, nothing is official yet and this is just a report indicating that Iger may be interested in making this purchase. We’ll keep an eye out for more updates and let you know what we find!