Irsay was 12 years old when his father, Robert Irsay, purchased the Baltimore Colts. After graduating from SMU in 1982 he joined the Colts' professional staff. He was named Vice President and General Manager in 1984, one month after the Colts relocated from Baltimore, to Indianapolis. After his father suffered a stroke in 1995, Jim assumed day-to-day management with the role of Senior Executive Vice President, General Manager and Chief Operating Officer in April 1996. When his father died in 1997 Jim engaged in a legal battle with his stepmother over ownership of the team, but later became the youngest NFL team owner at that time at 37.
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Mr. Irsay is worth an estimated $3.5 billion.