Colts' Jim Irsay Profiled As One Of The NFL's Savviest Owners
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Colts' Jim Irsay Among
NFL's Savviest Owners |
Colts Owner JIM IRSAY is the "untucked shirt in the buttoned-up world of NFL owners," and the league's "most eccentric owner is also among its savviest -- and one of its biggest risk takers," according to a cover story by Monte Burke of FORBES. Irsay took over control of the Colts following the death of his father, ROBERT, in '97, and one of his "first moves as an owner was to bring the radio rights in-house in 1998, the first NFL team ever to do so." Within two years the "radio revenues tripled; last season they were $3.2[M], more than most other small-market teams got." The Colts have 50 local sponsors, which is "twice the count of the average NFL team," and during the past five seasons, the Colts' "advertising and sponsorship revenue has doubled to $15[M]." SportsCorp President MARC GANIS said of Irsay, "He's the best small-market owner in the NFL." The Colts, who this season moved into the new Lucas Oil Stadium, pay a "tiny $250,000 in annual rent while reaping all football-related revenues, which will add $30[M] a year." Irsay faced "little resistance from taxpayers asked to pick up so much of the cost." The Bonham Group President ROB VOGEL said, "It's definitely one of the most favorable leases in recent league history." Irsay also has "reached out beyond the Indianapolis market." Aside from the stadium naming-rights deal with California-based Lucas Oil, Irsay signed both Florida-based Airtran Airways and St. Louis-based Anheuser-Busch as sponsors. Other NFL team owners "credit his work as an owner -- and his personality -- as a significant reason for awarding Indianapolis the 2012 Super Bowl, a rare honor for a cold-weather city." Patriots Owner ROBERT KRAFT: "I voted for Indianapolis because of Jim, because I like him and respect what he's done there." Irsay, who has the Colts logo tattooed on his right shoulder, is a published poet and songwriter and owns guitars from JERRY GARCIA and ELVIS PRESLEY, offers a "stark contrast to the reign of his father" (FORBES, 9/28 issue).
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