Indianapolis Colts Owner Jim Irsay Dead at 65

Jim Irsay, the long-time owner of the Indianapolis Colts, has died, the team announced on Wednesday.

Irsay passed away "peacefully in his sleep this afternoon," the team said in a lengthy message posted on social media, which highlighted his love of the game, team, town and fans.

The billionaire inherited the Colts from his father, who bought the team when they were still based in Baltimore and moved them to Indy ... and the organization went on to win a Super Bowl in 2007 with the iconic Peyton Manning as quarterback.

Irsay -- who played football himself as a walk-on linebacker and studied broadcast journalism at Southern Methodist University -- worked his way up through the organization for two years before taking over as general manager in 1984.

He was named owner of the Colts after his father's passing in 1997, becoming one of the youngest to hold the position in league history.

Irsay certainly left his mark -- electing for a passionate and expressive approach to his role in comparison to his fellow league owners.

As TMZ Sports previously reported, Irsay suffered a medical scare in December 2023 ... which cops classified at the time as a suspected "overdose" and "overdose/poisoning."

He later refuted the officials' report ... claiming his condition was due to a leg injury.

Irsay had been vocal about his struggles with alcohol and prescription pills in the past ... claiming he had been to rehab at least 15 times. He used his platform and own journey to bring awareness to the issue -- reportedly donating upwards of $17 million to his initiative, "Kicking the Stigma" ... which he launched in 2020 to help those with mental health and addiction issues.

Irsay was also obsessed with music ... and had his own band, as well as an extensive memorabilia collection -- which he put on display for countless fans to enjoy.

He is survived by his daughters Carlie Irsay-Gordon, Casey Foyt and Kalen Jackson, his ex-wife, Meg Coyle, and 10 grandchildren.

He was 65.