NFL Franchise Owner Headed for Divorce

Property division is sometimes the most challenging aspect of a divorce. The discovery and disclosure of assets can be difficult, especially if you have not revisited your financial accounts and holdings for a long period of time. High-asset divorce in Maryland can be fraught with even more obstacles, as couples seek additional help for business assets and property disputes. That makes it all the more impressive when a celebrity couple can execute a quick split in a rational and fair manner.

News reports show that the owner of the NFL’s Indianapolis Colts football team, which was once based in Baltimore, will be divorcing his wife of 33 years. Jim Irsay and his wife Meg had been separated for about a decade, but they have finally decided to formally dissolve their marriage.

The Irsays say that the ownership of the Colts will not be jeopardized in the divorce. Jim has full ownership and control of the team. The couple’s three daughters are all considered vice chairs/owners of the team. The Colts are one of the NFL’s most valuable franchises, with an estimated worth of $1.6 billion. Jim Irsay also ranks high on the personal wealth scale, named as number 342 on the Forbes top 400 list in 2012. His personal fortune totals about $1.68 billion.

The divorce petition has not indicated whether the case will proceed to litigation, but it appears that the couple intends to pursue an amicable split. Meg says she will continue with her own career and maintain a strong relationship with the family, while Jim has told the media that he is committed to building the Colts franchise.

Even in cases of high-asset property division, couples can work together amicably to reach an appropriate agreement. No matter how much property you are dividing in your Maryland divorce, a qualified family attorney can help you learn more about your individual rights. This will allow you to maximize the outcome of your divorce case.

Source: www.indystar.com, “Wife of Colts owner Jim Irsay files for divorce” Mike Chappell, Nov. 21, 2013