Colts Owner Robert Irsay's death Tuesday has "only
accelerated the legal maneuvering" surrounding his finances,
according to Jenny Labalme of the INDIANAPOLIS STAR-NEWS.
Irsay's Chicago attorney filed the Colts owners' will in an
IL county probate court "several hours after his death."
Also, shortly after his death, an attorney for Irsay's son,
Jim Irsay, filed a lawsuit in the same county contending
that a prenuptial agreement precludes Robert Irsay's second
wife, Nancy Irsay, from inheriting the 138-acre farm that
her husband built for her, estimated in '95 to be about $7M.
The lawsuit by Jim Irsay "shocked" Nancy Irsay and her
attorney, William Conour. Conour: "It was totally tasteless
to file it. It was a slap in the face to Nancy and to Bob."
Labalme notes that the will "reveals very little" about the
distribution of Irsay's fortune; instead, the will assigns
that task to a trust overseen by five trustees, including
Jim Irsay (INDIANAPOLIS STAR-NEWS, 1/15).
COLTS PLAY THE SAME-GAME: The STAR-NEWS' Mike Chappell
reports that under terms of a binding agreement in Robert
Irsay's '88 divorce from his first wife, Harriet, "absolute
ownership of the Colts would transfer to Jim Irsay upon his
father's death." While Jim Irsay has been negotiating with
city officials on a new RCA Dome lease, and now must deal
with an inheritance tax that "could exceed" $70M, Chappell
notes the daily workings of the Colts will remain unchanged.
Jim Irsay: "I don't think people will see any difference at
all" (INDIANAPOLIS STAR/NEWS, 1/15).
