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Colts to remain with Jim Irsay after divorce

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The divorce of Jim Irsay and his wife of 33 years, Meg Coyle Irsay, will have no bearing on Jim’s ownership of the Indianapolis Colts.

The Irsays have been living apart for more than a decade. The divorce case was filed by Meg Irsay on Thursday in Hamilton Superior Court.

“After 33 years, we have mutually agreed to end our marriage,” the Irsays said in a jointly released statement. “Meg will continue to pursue her professional interests and her commitment to our children and grandchildren, while Jim will maintain 100 percent ownership of the Indianapolis Colts and his other business interests. Although the decision to end our marriage is a difficult one, it is the right decision for us and our family. We appreciate your respect for, and understanding of, our privacy.”

According to the divorce filing by Meg's attorney, "There has been an irretrievable breakdown of the marriage of the parties, and the petitioner requests that the parties' marriage be dissolved."

The Irsays’ three daughters—Carlie Irsay-Gordon, Casey Foyt and Kalen Irsay—for the last two seasons have been listed in the Colts media guide as team vice chairs and co-owners.

The Colts were valued this year at $1.2 billion by Forbes magazine, 11th in the NFL. In its most recent NFL team valuation, Forbes said the Colts had annual revenue of $276 million and operating income of $65 million in 2012.

Irsay was listed 342nd earlier this year on Forbes' latest list of the nation's wealthiest people, with $1.6 billion.

Jim Irsay, 54, assumed ownership of the Colts in 1997 following the death of his father, Robert, who moved the team to Indianapolis from Baltimore in 1984.

Jim and his stepmother, Nancy, had a bitter battle over assets of the late Robert Irsay’s estate after his death. At that time, Jim got sole ownership of the Colts while Nancy got ownership of Sweet Charity Farm, a multimillion dollar horse show facility in Hamilton County, $750,000 in cash, a Chicago condominium, proceeds from a $250,000 insurance policy, a health insurance policy and four Colts tickets in the owner’s suite.

Sources close to Jim Irsay said after the 22-month legal battle with his stepmother that he sought to make it clear no matter what turn of events took place in his personal life that he would maintain ownership of the team.


 

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  • Pity
    Damn! This might have been the one chance to dethrone this raging ego, Jerry Jones wannabe. This means his embarrassing public comments and his sophomoric, ignorant tweets are going to continue to embarrass him, the team and the city for years to come . . . yay There is not much worse than the arrogance of a pin head who was born on third base and woke up and thought he hit a triple. His daughters are probably very nice people (thanks I imagine, to the mom) but, come on! The Colts program lists the Colts executives thusly: King James (ok, that makes sense, even if only because he won the gene pool) His three daughters (vice presidents) - by the way, this is exactly why during last year's labor dispute the league owner's refused to open up their books, especially payroll. Just about every team is no doubt burdened with all kinds of low contribution - high pay nepotism employees and the league, while crying about accelerating costs, did not want all of the waste and inefficiencies revealed. People don't come more union-free than me but this tool is why unions are necessary. Oh - and don't forget to check out the scout list. There is that well known and widely recognized football genius, AJ Foyt IV (really, look it up) until, before he married his way into the gene pool was best known as a below average Indycar driver whose best known accomplishments were being seen walking out of strip clubs in the early morning hours the day of the 500). Football scout. National Football League football scout. Ryan Grigson - Oh, nice! The guy in charge of player development, evaluation and acquisition is listed 5th in the program. No wonder this team has never had a decent offensive or defensive line. No wonder the minute Payton gets hurt we lose ten in a row, no wonder Payton flourishes on a better overall team after being released from the ineptitude of Boss Hog. How does anyone with a conscious and an organization making $65 million on $276 million of revenue, 24%, justify asking for "tax: relief, threaten to move the team, or raise prices on tickets and concessions. How? Greed. Oh, and to the guy who wants the team to move to Los Angeles so all that tax money can be used to protect him - grow up flower child. Before you lay out your high level civic finance plan make sure you take into account the tax dollars the Colts and Pacers bring in, not to mention the jobs and additional entertainment revenues the facilities help attract. And the civic pride and community spirit these teams inspire must also be considered in your little +/- analysis. Do I sense a little nagging hostility from someone who got cut from freshman football?
  • Move the Colts
    It would be great if Colts would move to LA and the Pacers to anywhere else so we would quit giving them our tax $$. Then maybe we could focus on some public safety and not get mugged going to our cars. I Think LA Colts sounds great. I think "anywhere but here" Pacers sounds great, too.
  • Cool Beans
    This will make it easier for Irsay to move the Colts to my beloved Los Angeles. Coolio! The LA Colts sounds almost as good as the Baltimore Colts.
    • Absolute truth
      Bruce you are so right!
    • over a billion in value
      well devorce brings freedom but with such a valuable worthness, i wonder with dollars and facts out, why should hoosiers be tax extra to pay bills for a football team corperation that should pay all their own bills for stadium. i dont see it as legal hoosiers who are being taxed to pay the unpaid bills.it is that some politicians made these agreements to tax hoosiers who are not represented fairly ,any business who grossly profits at the cost of lower end families who are taxed extra while eating out at mcdonalds who cant afford football fees to ever see such games are misplaced politicians who probably get special football deals should no longer represent,the hotels are not hoosier but what generally international stock owned corperations located where who knows but surely not hoosier businesses. i saw an article saying 80% of those attending came from out side indianapolis population so remove the tax burden paided & taxed by hoosiers for the benefit of a billion plus dollar corperation.
      • Colts
        Made it clear he would maintain ownership of the team...until death do us part. When that dire day happens, I see the girls walking into the locker room...just like Major League.

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