What is Jim Irsay's net worth?
Jim Irsay is an American businessman who has a net worth of $4 billion. Jim Irsay earned his fortune as the owner of the NFL's Baltimore Colts franchise. He inherited the franchise from his father Robert Irsay. Robert purchased the then-Baltimore Colts when Jim was in elementary school.
Early Life
He was born in Lincolnwood, Illinois, on June 13, 1969. He is the son of Harriet Pogorzelski and Robert Irsay, a businessman with a successful heating and air-conditioning company. Growing up in a football-loving family, he developed a deep passion for the sport. Irsay attended high school at Loyola Academy and later graduated from Southern Methodist University in 1982 with a degree in broadcast journalism.
Indianapolis Colts
On July 13, 1972, Robert Irsay bought the Los Angeles Rams for $19 million from the estate of Dan Reeves. That same day, he traded the team to Carroll Rosenbloom, who was the owner of the Baltimore Colts at the time, but who wanted to live on the West Coast.
Robert Irsay will forever be known as the owner who took his team and moved it out of town in the middle of the night. Like many NFL owners, Irsay's relationship with the City of Baltimore officials was strained. The Maryland legislature passed a law on March 27, 1984, that made it legal for the state to claim eminent domain and seize the team in the name of the public good.
Fearing that the state was going to do just that, he accepted a deal from the City of Indianapolis. Then Indianapolis mayor, William H. Hudnut III, was the person who contacted Mayflower moving company to arrange for 15 trucks to move the team in the middle of the night.
Jim was 12 years old when his father acquired the team. Upon graduating from SMU in 1982, he went to work for the team.
In 1995, as his father's health was failing, he became Senior Vice President and General Manager. One year later, he became Chief Operating Officer of the Baltimore Colts. After his father passed away in 1997, he and his stepmother fought for control of the Colts. He eventually won, and, at age 37, became the youngest team owner and CEO in the NFL.
Under Irsay's ownership, the Indianapolis Colts have seen considerable success, most notably a Super Bowl XLI victory in 2007. His focus on stability and long-term planning has resulted in the Colts having one of the NFL's best win-loss records since he took ownership. Key decisions, like the hiring of Bill Polian as President and the drafting of Peyton Manning in 1998, reflect Irsay's knack for making critical choices that have shaped the franchise's successful trajectory.
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Addiction Issues
In March of 2014, Irsay was arrested and charged with a DWI and 4 felony counts of possession of a controlled substance. Police reported that at the time of the arrest Isray failed to pass several roadside field sobriety tests, and they found several pill bottles with Schedule IV prescription drugs in the car.
Subsequently, he sought treatment and became an advocate for mental health and addiction recovery. He has been open about his struggles, using his platform to help others facing similar issues.
Memorabilia Collection
One of Irsay's most notable passions outside football is his collection of music and pop culture memorabilia. This includes iconic items like the original manuscript of "On the Road" by Jack Kerouac, Jerry Garcia's guitar dubbed "Tiger," and Prince's "Yellow Cloud" guitar. Most notably, he is the proud owner of a significant collection of Beatles memorabilia, including the drumhead from their historic Ed Sullivan Show performance and John Lennon's Gibson J-160E guitar.
According to Irsay, he was once offered $1.15 billion for his collection by a buyer from the Middle East. Explaining why he turned the offer down:
"I've been offered $1.15 billion for the collection in totality by someone in the Middle East. I turned it down because, to me, No. 1, it's priceless. And No. 2, I never started the collection for that reason, to look at it and say, 'Oh, this is going to be a great investment.'"
(Photo by Joe Robbins/Getty Images)
Personal Life
Irsay has three daughters – Carlie, Casey, and Kalen – with his ex-wife, Meg Coyle. His daughters have increasingly become involved with the Colts, indicating a potential succession plan for the franchise.
Known for often quoting rock music, he also owns Jack Kerouac's original manuscript for "On the Road", for which he paid $2.43 million. He has also purchased guitars owned by Elvis Presley, John Lennon, Paul McCartney, George Harrison, Jerry Garcia, Bob Dylan, and Prince and a drum set owned by Ringo Starr.
