India, May 22 -- Jim Irsay, the longtime owner and CEO of the Indianapolis Colts, has died at the age of 65. The team confirmed the heartbreaking news on Wednesday, sharing that Irsay passed away peacefully in his sleep.

"We are devastated to announce our beloved Owner & CEO, Jim Irsay, passed away peacefully in his sleep this afternoon. Jim's dedication and passion for the Indianapolis Colts in addition to his generosity, commitment to the community, and most importantly, his love for his family were unsurpassed," they posted on X.

Irsay had been at the helm of the Colts since 1997, taking over after the death of his father, Robert Irsay, who originally brought the franchise to Indianapolis from Baltimore in 1984.

Forbes recently esti...