The Colts are among the many NFL teams that have considered selling a share of the franchise to a private equity investor.
But Colts owner and CEO Carlie Irsay-Gordon says she and her sisters, who inherited the team from their father Jim Irsay, aren’t looking to sell any portion of the team right now.
“We certainly looked at [private equity],” Irsay-Gordon told ESPN. “We don’t have any intention of doing it now.”
Irsay-Gordon hinted that could change, if the Colts decide they need the money to improve Lucas Oil Stadium.
“We have a beautiful building that has amazing bones, but we’re going to need to renovate it,” she said. “It’s already almost 20 years old. It’s insane. But a lot’s changed since then. . . . I think it’s a good thing to be able to have another avenue to diversify your business, get some source of funding if you want to renovate. It’s just another tool.”
NFL owners know private equity money is available, and even the ones who have ruled it out for now may revisit that stance down the road.