In 2013, Jim Irsay quietly made a change that most fans missed—but legal insiders knew it meant everything. That year, he named his daughter Kalen Jackson as Vice Chair and Owner of the Colts, despite holding the majority ownership himself. It wasn’t just a ceremonial gesture. Irsay, long aware of the burdens that come with legacy, began laying the groundwork for a seamless transition. Now, in the wake of his passing, that foresight may prove invaluable.

Tragic news has rocked the Indianapolis Colts community: longtime owner Jim Irsay has passed away peacefully in his sleep at 65 years old. Beyond the emotional weight of the moment, one looming question now dominates the conversation in league circles—who will inherit the team? With the franchise estimated at a valuation of $4.8 billion per Forbes, Irsay’s passing triggers a complex series of estate and tax considerations. The ownership transition isn’t just about family—it’s about legacy, control, and financial planning under the NFL’s intricate succession framework.

Jim Irsay is survived by his three daughters: Carlie Irsay-Gordon, Casey Foyt, and Kalen Jackson—all of whom have been involved in the Colts organization to varying degrees. While each daughter holds part ownership, only Kalen and Carlie have held prominent executive roles within the franchise. Kalen Jackson, in particular, has been a visible force behind the team’s community efforts and long-term strategy, often representing the Colts at league events and on ownership committees. But will one of them take full control?

According to Dan Emerson, the team’s general counsel, they have taken care of the issue of succession. “Estate planning certainly is not an issue that has been ignored,” he told reporters. While he clarified that no formal announcement has been made about a singular successor, Emerson emphasized that Irsay had taken “great care” in laying out a transition plan for estimated $4.8 billion empire well in advance.

In fact, he was clear about his legacy from the days when he inherited the NFL franchise. In 1997, when Jim Irsay had not even become the owner, he had said that he would keep 100% of the franchise, and he would pass it down to his daughters. His daughters have also been helping run the organization for quite some time. In 2014, when he entered rehab for alcohol addiction, Carlie Irsay-Gordon took care of the business operations. Of his other daughters, Foyt focuses on marketing and community relations, while Jackson is involved in corporate sales and community outreach programs.

While the succession planning has been a hot topic of discussion in the league, chances are high that it will turn into a legal battle. Something that happened almost 3 decades ago.

Jim Irsay fought his stepmother for the Colts

For the fans who don’t have an idea, let’s dive into some history. It was 1994. Robert Irsay, Jim Irsay’s father, assigned him to oversee the financial operations while he brought in Bill Tobin as the GM. But a year later, he suffered a stroke. Everything was in jeopardy, forcing the younger Irsay to take over the operations as their senior executive vice president, general manager, and chief operating officer.

Robert’s death next year intensified the turmoil even more. A legal battle ensued with his stepmother, Nancy, but he settled and kept 100% of the stake. He understood he had a rare asset that many aspire to have. Over the years, he became an integral part of the NFL too, working as an active Chairman of the Legislative Committee and member of the Finance Committee. Such things make it an enormous loss for everyone: the Colts, the league, and the fans.

NFL commissioner Roger Goodell was devastated by the news: “On behalf of the entire NFL, I extend my heartfelt condolences to Jim’s daughters and their families, and to his many friends throughout the NFL.” But with his daughters already involved with the team operations, expect a smoother legal transition in ownership than their father’s.