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My dad cheaply bought the Indianapolis Colts 50-years-ago – now worth billions

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My dad cheaply bought the Indianapolis Colts 50-years-ago – now worth billions


THE Indianapolis Colts have a long and heralded history – but only one family has been in control for the last 50 years.

The Irsay’s have had power over the Colts since Robert purchased the team in 1972 for a small sum.

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Robert Irsay purchased the Colts for just a few million dollarsCredit: Getty
Irsay is in the Colts Ring of Honor

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Irsay is in the Colts Ring of HonorCredit: Getty
Moving the Colts was an extremely controversial decision

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Moving the Colts was an extremely controversial decisionCredit: Getty

Irsay traded the Los Angeles Rams to buy the Colts, then centered in Baltimore, for just $14.5million.

Today, the franchise is valued at a staggering $3.8billion.

The team increased its value by over 16 percent in just the previous year.

When buying the team, Irsay even consulted with his young son, now the owner of the Colts, Jim, to get his opinion.

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Jim recalls: “Then he came to me and said — and I was only 11 years old at the time — he said, ‘Do you want the Rams or the Colts?’ I said the Rams.”

Despite his son’s preference, Irsay went the other way – but not entirely all by plan.

When Irsay showed up to buy the Colts, he only expected to purchase less than a third of the team, but other investors got cold feet.

Jim says: “He showed up to buy 30 percent of the team or so, and the other investors bailed, so he said, ‘I’ll take 100 percent,’ and he put everything he had into it.

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“He had sold the Robert Irsay Company for $5 million. My mom had to go to the bank to sign the check for everything he had. She always reminded him of that.”

Eventually in 1984, Irsay made the controversial decision to relocate the Colts to Indianapolis.

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Irsay would own the team until he suffered a stroke in 1995, passing ownership down to Jim.

Just two years later, Irsay passed away, leaving the franchise entirely to his son.

Since Jim took over in 1995, the Colts have compiled a 258-191-1 regular season record.

Under his ownership, the team has claimed 10 division titles, made the playoffs 18 times, appeared in two Super Bowls, and won Super Bowl XLI in 2007.

Jim now owns the Colts

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Jim now owns the ColtsCredit: Getty
Under Jim's ownership, the Colts have won a Super Bowl

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Under Jim’s ownership, the Colts have won a Super BowlCredit: Getty
Jim's net worth is over $3.9billion

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Jim’s net worth is over $3.9billionCredit: Getty





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Indianapolis, IN

Indiana Grown: 8th Day Distillery

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Indiana Grown: 8th Day Distillery


INDIANAPOLIS (WISH) — Each and every Saturday, WISH-TV highlights a local company together with our partners at Indiana Grown.

This week, Jaime and Matt Lamping with 8th Day Distillery in Indianapolis joined News 8 at Daybreak.

The Lampings share with News 8 what started their passion for the distillery, and elaborate on how Indiana’s state laws at the time impacted their plans.

They also share more about their Bottle Shop & Cocktail Bar, which recently celebrated its sixth anniversary. They discuss their various workshops and show off new releases ready to hit your shelves this year.

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Watch the full interview above to learn more.



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Indianapolis, IN

Report: Pirates Promote Top Pitching Prospect to Indianapolis

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Report: Pirates Promote Top Pitching Prospect to Indianapolis


PITTSBURGH — The Pittsburgh Pirates are reportedly promoting one of their top pitching prospects in their minor league system, getting him closer to the MLB.

Alex Stumpf of MLB.com reported that the Pirates will promote right-handed pitcher Bubba Chandler from Double-A Altoona Curve to Triple-A Indianapolis Indians.

Chandler played for North Oconee High School in Bogart, Ga., 60 miles east of Atlanta. He starred in multiple sports, including basketball, golf, football and baseball. He originally committed to Georgia to play baseball, but then decommitted and committed to Clemson to play both football and baseball.

He had a fantastic senior season for North Oconee, going 8-1 with just a 1.25 ERA, plus 96 strikeouts in 44.2 innings pitched, while hitting .411 with eight home runs, 12 doubles and 35 RBI.

The Pirates would select Chandler with the No, 72 overall pick in the Third Round of the 2021 MLB Draft and signed him for $3 millon signing bonus, an over slot signing.

He pitched and also played shortstop for the Rookie-Level Florida Complex Pirates in 2021 and 2022 and then earned promotion to the Bradenton Marauders in the Single-A Florida State League.

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Chandler chose to focus on pitching heading into the 2023 season, which would show his best talents. He started 24 games for the Greensboro Grasshoppers in High-A, with a 9-4 record, 4.75 ERA in 106.0 innings pitched, making 120 strikeouts to 51 walks and holding hitters to a .265 batting average.

He made it up to Altoona for just one game in 2023, allowing just one hit in five innings of work and getting the win.

Chandler has played all of 2024 in Double-A, starting 16 of 19 games, a 6-7 record, one save, one shutout. He also had a 3.70 ERA in 80.1 innings pitched, allowing 55 hits, 33 earned runs and 26 walks, while making 94 strikeouts and holding hitters to a .192 batting average, along with having a 1.01 WHIP.

His last start came Friday night against the Richmond Flying Squirrels, allowing just two hits and one run in 6.0 innings pitched, while making six strikeouts on 80 pitches.

Chandler has also pitched great since the start of June, with a 2.61 ERA and 10.6 K/9.

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MLB Pipeline ranks Chandler as the No. 49 prospect in their top 100 across baseball, the No. 9 right-handed pitcher and No. 12 pitcher. They also rate him as the highest Pirates prospect.

Make sure to visit Pirates OnSI for the latest news, updates, interviews and insight on the Pittsburgh Pirates.





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Indianapolis, IN

National discount retailer to make it's way to downtown Indianapolis

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National discount retailer to make it's way to downtown Indianapolis


INDIANAPOLIS — The downtown Indy building Claypool Court is getting a new retailer.

Officials hope major names like Burlington will bring more Hoosiers and visitors to Mile Square.

WRTV

“There’s definitely a lot of higher-end restaurants right around this area, so I think bringing in some retail stores isn’t a bad idea,” Wesley Slaughter, who lives downtown, said.

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The store will sit at Washington and Illinois Streets, an area Slaughter says will be a good fit because it’s a heavily trafficked intersection.

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WRTV

“I could see it being beneficial to get more people in the area because otherwise you have to drive outside of 465 just to hit one of those stores,” Slaughter said.

TJ Maxx has been a big part of the downtown retail scene for many years, but now there is some competition with the Burlington that’s going to be a couple of doors down.

WATCH RELATED COVERAGE | Downtown Indy’s Future Plans announced

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Downtown Indy’s future plans announced

“We’re excited anytime that there’s a new addition to the retail landscape here in downtown Indianapolis,” Taylor Schaffer, with Downtown Indy Inc., said.

Schaffer says this is just part of a pipeline of new projects and development coming to the area.

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The space Burlington will take over is the lower level of Claypool Court. It used to be home to the Rhythm! Discovery Center.

The store is set to open this fall.





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