Jim Irsay donates a million dollars to Cancer Research

[CR91]

 

Even though thats toilet paper to a billionaire . Much respect though from a cancer survivor. Re-mission 17 years.   

[NewColtsFan]

For what it’s worth...  

 

I don’t think Irsay is a billionaire because he has a billion dollars sitting in the bank.   I think he’s paper-rich.   What he owns (the Colts) is worth we’ll over a billion and that’s the source of his wealth. 

 

I try to notice things like signing bonuses.    Other than what we gave Luck, our signing bonuses are typically among the smallest in the NFL.   We will guarantee salary for a year or so.  Guarantee a roster bonus.   But our signing bonuses are typically very small.

 

The SB’s for guys like Hilton and AC were very small compared to their piers.    Our negotiators do a great job of getting deals done and safe guarding Irsay’s money.

[21isSuperman]

One of the classiest owners in all of sports.  Major kudos to Jim Irsay and the entire Irsay family for all they do in the community

[CR91]

23 minutes ago, NewColtsFan said:

For what it’s worth...  

 

I don’t think Irsay is a billionaire because he has a billion dollars sitting in the bank.   I think he’s paper-rich.   What he owns (the Colts) is worth we’ll over a billion and that’s the source of his wealth. 

 

I try to notice things like signing bonuses.    Other than what we gave Luck, our signing bonuses are typically among the smallest in the NFL.   We will guarantee salary for a year or so.  Guarantee a roster bonus.   But our signing bonuses are typically very small.

 

The SB’s for guys like Hilton and AC were very small compared to their piers.    Our negotiators do a great job of getting deals done and safe guarding Irsay’s money.

 

Well if you wanna get into the nit and gritty of it, but regardless Irsay has more money then all of us combined.

[NewColtsFan]

1 hour ago, CR91 said:

 

Well if you wanna get into the nit and gritty of it, but regardless Irsay has more money then all of us combined.

Yes...    without question!    You make a perfectly valid point!    

[WoolMagnet]

Well....... Kraft just donated at least that much to the American Attorney's union recently.

He's also "donated" greatly in the area of Asian - American  relations.

 

  On a serious note.... well done Jim.  Your heart is bigger than your guitar collection. 

[WoolMagnet]

1 hour ago, NewColtsFan said:

For what it’s worth...  

 

I don’t think Irsay is a billionaire because he has a billion dollars sitting in the bank.   I think he’s paper-rich.   What he owns (the Colts) is worth we’ll over a billion and that’s the source of his wealth. 

 

I try to notice things like signing bonuses.    Other than what we gave Luck, our signing bonuses are typically among the smallest in the NFL.   We will guarantee salary for a year or so.  Guarantee a roster bonus.   But our signing bonuses are typically very small.

 

The SB’s for guys like Hilton and AC were very small compared to their piers.    Our negotiators do a great job of getting deals done and safe guarding Irsay’s money.

Uh,  thats how net worth tends to work.

It would be one heck of a yard sale tho.  Historic.

I can see Jim sittin out there in the yard like Will Ferrel.

[jvan1973]

4 hours ago, NewColtsFan said:

For what it’s worth...  

 

I don’t think Irsay is a billionaire because he has a billion dollars sitting in the bank.   I think he’s paper-rich.   What he owns (the Colts) is worth we’ll over a billion and that’s the source of his wealth. 

 

I try to notice things like signing bonuses.    Other than what we gave Luck, our signing bonuses are typically among the smallest in the NFL.   We will guarantee salary for a year or so.  Guarantee a roster bonus.   But our signing bonuses are typically very small.

 

The SB’s for guys like Hilton and AC were very small compared to their piers.    Our negotiators do a great job of getting deals done and safe guarding Irsay’s money.

What do you base any of this on?  I would love to see the data on your theory.

[NewColtsFan]

32 minutes ago, jvan1973 said:

What do you base any of this on?  I would love to see the data on your theory.

I don’t know that I have any “data”.   But I did say that the Colts Signing Bonuses are very small.  I believe them to be among the smallest in the league. 

 

Signing bonuses are typically in the 40-60 percent rate.   Sometimes closer to 33 percent.   Colts SB’s are often very small.   Don’t take my word for it.   I mentioned Hilton and AC.    See what they signed for.   See what the SB was.

 

Look at the Desir contract.   Small SB.  Look at the Glowinski contract.   Same. 

 

Check out the Houston and Funchess deals.   Small SB, but a very high guaranteed salary.   Check the Hankins deal we did a few years back. 

 

Does Irsay have another business where he makes money?   Not that I’m aware of. 

 

If if I had to guess — and it’s only a guess — my hunch would be Irsay would be in the lower half of the 32 owners as far as available cash.  Small market and all that.

 

None of this should be read as a knock on Irsay.   Not meant that way at all. 

[NewEra]

Very cool. You'd like to think there's still some rich out there with their humanity 

[superrep1967]

9 hours ago, 21isSuperman said:

One of the classiest owners in all of sports.  Major kudos to Jim Irsay and the entire Irsay family for all they do in the community

Yes, I agree I’ve have had a chance to talk with Irsay and what a great guy there’s no other owner I would rather have than Irsay I hope he’s in good health and has beaten his pain med addiction. 

[Behle]

A quick search says that Mr Irsay is worth over 2 billion and that the franchise is valued at over 1 billion. 

[wig]

21 hours ago, NewColtsFan said:

I don’t know that I have any “data”.   But I did say that the Colts Signing Bonuses are very small.  I believe them to be among the smallest in the league. 

 

Signing bonuses are typically in the 40-60 percent rate.   Sometimes closer to 33 percent.   Colts SB’s are often very small.   Don’t take my word for it.   I mentioned Hilton and AC.    See what they signed for.   See what the SB was.

 

Look at the Desir contract.   Small SB.  Look at the Glowinski contract.   Same. 

 

Check out the Houston and Funchess deals.   Small SB, but a very high guaranteed salary.   Check the Hankins deal we did a few years back. 

 

Does Irsay have another business where he makes money?   Not that I’m aware of. 

 

If if I had to guess — and it’s only a guess — my hunch would be Irsay would be in the lower half of the 32 owners as far as available cash.  Small market and all that.

 

None of this should be read as a knock on Irsay.   Not meant that way at all. 

 

I'm gonna go out on a limb and say contract have about nothing to do with cash flow and everything to do with smart structures. 

[fahlman]

3 hours ago, Behle said:

A quick search says that Mr Irsay is worth over 2 billion and that the franchise is valued at over 1 billion. 

 

According to Forbes the Colts are worth twice that at 2.4 billion (https://www.forbes.com/teams/indianapolis-colts/#7bd37aff6fd8) and Mr. Irsay is worth 2.7 billion (https://www.forbes.com/profile/james-irsay/#4b24ed463365)

[ReMeDy]

So how much more money are these so-called cancer experts going to need to find a cure? You could give them 100 trillion and somehow they won't find it. I love Irsay's gesture of good-will, but you know that money will just line someone else's pockets.

[Dark Superman]

Some NFL Owners spend a million dollars towards cancer research while others spend them at Strip Clubs.

[Buck Showalter]

3 hours ago, wig said:

 

I'm gonna go out on a limb and say contract have about nothing to do with cash flow and everything to do with smart structures. 

Yeah, ive felt that since "Capologist" Michael Bluem came in with Grigs, contract structures have been a strength of the Colts FO...

Glad he's still working with Ballard...

[LJpalmbeacher2]

15 hours ago, ReMeDy said:

So how much more money are these so-called cancer experts going to need to find a cure? You could give them 100 trillion and somehow they won't find it. I love Irsay's gesture of good-will, but you know that money will just line someone else's pockets.

 

I'd like to add to your post. Remember the old adage "a ounce of prevention is worth a pound of cure"?

Well if they wouldn't bombard us with harmful food and additives they process it with and bad waves from cell phones and towers and countless other stuff a lot less people would develop cancer.

[JPFolks]

It is really nice to see an owner giving a million dollars to fight a global disease that horrendously destroys life, often randomly, across all groups.  Especially when I saw another article linked from that one about an owner who donated 6 million dollars to build a sports complex in a foreign country, by comparison.  It's his money but you'd think at least the sports complex would be built to benefit people who live in the same state or country (let alone city) as his NFL team.  Seems to me like Cancer, in general, is a better use of that kind of surplus cash but hey, that's just my opinion I am sure others disagree. 

 

Irsay has class and runs an operation that also has class and doesn't cheat, but some in the media still try to tear him down for a mistake that harmed no one but himself.  Meanwhile the other owner (at minimum) patronized a criminal enterprise which harmed people held against their will in forced "labor" and yet is often idolized by the same media (just after being given the highest civilian honor in a foreign country which was a second article link I followed).  Let's see if he gets more than a slap on the wrist for a far worse crime with actual real life victims.  They recently ran another team owner out of the league for far far less.  But that guy only owns a team that cheats and he patronizes organized crime, but pay no attention to the man behind the curtain.  He won't be losing his team.  Of that, I am sure. 

 

I hope people realize just how lucky we are to have the team owner we have.  If you include the Pacers as well, I'll take our city's two major sports teams over all others.  

[horseshoecrabs]

With the kind of money that is made over the years, finding a better cure would stop the money train. I don't want to come across as too cynical, but it is a business, at this point. Preventive medicine is the way the medical field is right now, also medical insurance. Preventive medicine has some merit, but sometimes jumping the gun too early also leads to unnecessary procedures. that can make it worst. Just saying be very careful, and get second, and third option's before you freak out over a diagnosis. My main pet peeve is the pharmaceutical field's  outrageous cost for medicine that people need to live, and most are not covered by insurance. I'm talking about thousands of dollars a month, to supply patients with life saving medicine they need to survive. The old saying that even if you are wealthy, it can't buy you health, looks like that old adage is changing for most people.        

[Valpo2004]

On 5/10/2019 at 4:37 PM, NewColtsFan said:

For what it’s worth...  

 

I don’t think Irsay is a billionaire because he has a billion dollars sitting in the bank.   I think he’s paper-rich.   What he owns (the Colts) is worth we’ll over a billion and that’s the source of his wealth. 

 

I try to notice things like signing bonuses.    Other than what we gave Luck, our signing bonuses are typically among the smallest in the NFL.   We will guarantee salary for a year or so.  Guarantee a roster bonus.   But our signing bonuses are typically very small.

 

The SB’s for guys like Hilton and AC were very small compared to their piers.    Our negotiators do a great job of getting deals done and safe guarding Irsay’s money.

 

Pretty much any billionare is a billionare based upon ownership of a company.  Usually in the form of stock.  So that isn't abnormal.

 

Low signing bonuses make sense from a cap prospective.  You give them the money in the form of a "roster bonus" and then after the first year there is no dead money on the contract if you want to cut them.  

[Myles]

Kudos to Irsay for his donation.

However, lets not put a billionaire on a pedestal for a donation like this.   It is the equivalent of me giving $20, which I have done many times over.    Irsay literally has 2700 million dollar bills to his name.   Granted some is tied up in his companies.   

[NewColtsFan]

2 hours ago, Valpo2004 said:

 

Pretty much any billionare is a billionare based upon ownership of a company.  Usually in the form of stock.  So that isn't abnormal.

 

Low signing bonuses make sense from a cap prospective.  You give them the money in the form of a "roster bonus" and then after the first year there is no dead money on the contract if you want to cut them.  

 

I understand everything you wrote, so I’ll put it another way...    because we’re a small market team with no other revenue streams I’d guess Irsay might be in the bottom half of the richest owners and not in the top half.   So, somewhere between 17-32 and perhaps not in the the group of 1-16. 

 

That’s my hunch. 

[jvan1973]

36 minutes ago, NewColtsFan said:

 

I understand everything you wrote, so I’ll put it another way...    because we’re a small market team with no other revenue streams I’d guess Irsay might be in the bottom half of the richest owners and not in the top half.   So, somewhere between 17-32 and perhaps not in the the group of 1-16. 

 

That’s my hunch. 

https://www.chatsports.com/nfl/a/How-Much-Is-Each-NFL-Owner-Worth-19465

 

According to this he is 14th.   It's from 2015,  but I doubt it's changed much

[Myles]

2 hours ago, Myles said:

Kudos to Irsay for his donation.

However, lets not put a billionaire on a pedestal for a donation like this.   It is the equivalent of me giving $20, which I have done many times over.    Irsay literally has 2700 million dollar bills to his name.   Granted some is tied up in his companies.   

I have to readjust that.   The actual comparison would be $75 for me.  

[NewColtsFan]

23 minutes ago, jvan1973 said:

https://www.chatsports.com/nfl/a/How-Much-Is-Each-NFL-Owner-Worth-19465

 

According to this he is 14th.   It's from 2015,  but I doubt it's changed much

Understood....    sorry I wasn't more clear.

 

I wouldn't guess about what is publically known.

 

I'm guessing about how much money Irsay has in the bank.    Cash.    No way to know, I'm just guessing.   My guess is based on Irsay not having any other sort of revenue stream that I'm aware of.    He didn't own another company.    His father didn't own another company.    They owned the Colts.    That his source of wealth.     Not high tech, or oil,  or real estate or anything else that I know of.     Just my hunch.

 

 

[chad72]

20 minutes ago, Myles said:

I have to readjust that.   The actual comparison would be $75 for me.  

 

Nothing is guaranteed in the future, NFL team values could plateau and costs will rise eating into the profits. However, for the little guys like us that don't take the same risk that these businessmen take, there is a better chance our salaries will go up. We always make the assumption of the same upward curve for these businessmen. While reasonable that it goes up, they are not dipping into that net worth which could go down. That is why the generic disclaimer that past performance is not an indicator of future results.

 

To do a true comparison, you have to add up all your investments, retirement accounts, possible social security benefits per month and then calculate a number.   If you say social security may not be worth the same then as we think it would be now, then the same barometer applies to Irsay's net worth as well.

 

But then, the stock market (or any investment) does not make anyone rich, it makes them richer, it is all about the seed money. Multiplying my $1000 10 times is not the same as a millionaire multiplying his $1 million even 2 times. 

[chad72]

9 minutes ago, NewColtsFan said:

Understood....    sorry I wasn't more clear.

 

I wouldn't guess about what is publically known.

 

I'm guessing about how much money Irsay has in the bank.    Cash.    No way to know, I'm just guessing.   My guess is based on Irsay not having any other sort of revenue stream that I'm aware of.    He didn't own another company.    His father didn't own another company.    They owned the Colts.    That his source of wealth.     Not high tech, or oil,  or real estate or anything else that I know of.     Just my hunch.

 

 

On a light note (if you are in the mood for jokes), if Jim can have a few thousands of dollars in cash while busted a few years ago, I am sure he has a good stash that he can get his hands on demand any time.  

[NewColtsFan]

11 minutes ago, chad72 said:

 

On a light note (if you are in the mood for jokes), if Jim can have a few thousands of dollars in cash while busted a few years ago, I am sure he has a good stash that he can get his hands on demand any time.  

 

Yeah....    I wonder how much Jim is allowed to withdraw at an ATM at any given time?    For my wife and I think it's $400.      For Irsay,  is it $4000?      Must be nice!

 

[chad72]

28 minutes ago, NewColtsFan said:

Yeah....    I wonder how much Jim is allowed to withdraw at an ATM at any given time?    For my wife and I think it's $400.      For Irsay,  is it $4000?      Must be nice!

 

Jim withdraws cash at an ATM? I doubt that is the case at all.  

 

[Myles]

1 hour ago, chad72 said:

 

 

 

To do a true comparison, you have to add up all your investments, retirement accounts, possible social security benefits per month and then calculate a number.   If you say social security may not be worth the same then as we think it would be now, then the same barometer applies to Irsay's net worth as well.

 

 

Yep, that's where I got the $75

[NewColtsFan]

47 minutes ago, chad72 said:

 

Jim withdraws cash at an ATM? I doubt that is the case at all.  

 

 

Well...   I’m nit a billionaire so I don’t know how those folks live?   But how do they get cash?    New maybe Irsay has a personal assistant who gets his money for him?   I have no idea?   But he’s got to get money why some way!  So how do you think he does it?

 

Inquiring minds want to know....

 

[chad72]

47 minutes ago, NewColtsFan said:

 

Well...   I’m nit a billionaire so I don’t know how those folks live?   But how do they get cash?    New maybe Irsay has a personal assistant who gets his money for him?   I have no idea?   But he’s got to get money why some way!  So how do you think he does it?

 

Inquiring minds want to know....

 

 

I am not a billionaire either but I found this (they have money managers and accountants that will get it done for them but most of the time, they don't carry cash anyways, that is why it was surprising Irsay had a few ten thousand dollars in cash when he was busted):

 

https://www.quora.com/Do-billionaires-have-billions-of-pysical-cash-in-their-bank-accounts-or-have-most-of-them-in-shares

 

Most wealthy people who have large amounts of liquid assets, and who wants to keep them safe and liquid, will engage the cash management part of a big bank, much like a company does, that invests in low yield high quality liquid fixed income instruments like t-bills and other government instruments, CD's, repo's, high quality liquid paper and other "no lose" instruments. They can be converted to cash nearly instantly or at worst T+3 but if someone wanted to write a hundred million dollar check they could in theory.

 

https://www.quora.com/How-do-the-super-rich-handle-their-finances-Does-Bill-Gates-personal-bank-account-actually-say-66-000-000-000-00-available-I-cant-imagine-him-going-down-to-the-local-Chase-Bank-to-withdraw-50-bucks-to-pay-the-cleaner-so-what-happens-instead

 

[Sumo63]

On 5/11/2019 at 9:15 PM, ReMeDy said:

So how much more money are these so-called cancer experts going to need to find a cure? You could give them 100 trillion and somehow they won't find it. I love Irsay's gesture of good-will, but you know that money will just line someone else's pockets.

There are many types of cancer and new breakthroughs are being made annually to combat them.  As a 45 year old fighting stage 4 colon and liver cancer I'd ask that we give the cynacism a rest and refrain from impugning the intelligence and integrity of the people supporting, researching, and fighting for the survival of others and just allow optimism and hope to fuel our endeavors.  A very personal thanks to Mr. Irsay. His money wont bear fruit in time to save my life, but future generations will benefit from his generosity, I believe that.  Also, Mr. Irsay,  if we could start that 3 superbowl run sooner rather than later I'd really dig it.

[JPFolks]

12 hours ago, Myles said:

Kudos to Irsay for his donation.

However, lets not put a billionaire on a pedestal for a donation like this.   It is the equivalent of me giving $20, which I have done many times over.    Irsay literally has 2700 million dollar bills to his name.   Granted some is tied up in his companies.   

Right.. and I praise people who give $20 bucks as well.  Sadly, too few people give anything to help anyone.  In truth, money means far less than direct involvement.  Donating actual time is often the most valuable thing someone of normal financial means could do.  It helps both parties more than people might think.  So thank you for donating.  I suggest to all folks, if you can ever spare a couple hours, volunteer in your community on any of thousands of things out there needing help.  Usually you'll benefit even more than the work you put into it.  

[Myles]

8 hours ago, JPFolks said:

Right.. and I praise people who give $20 bucks as well.  Sadly, too few people give anything to help anyone.  In truth, money means far less than direct involvement.  Donating actual time is often the most valuable thing someone of normal financial means could do.  It helps both parties more than people might think.  So thank you for donating.  I suggest to all folks, if you can ever spare a couple hours, volunteer in your community on any of thousands of things out there needing help.  Usually you'll benefit even more than the work you put into it.  

Great point.   Time donating is far more valuable than money.   Especially when talking about the $20- $75 most of us would donate (equivalent of Irsays donation).    

[chad72]

8 hours ago, JPFolks said:

Right.. and I praise people who give $20 bucks as well.  Sadly, too few people give anything to help anyone.  In truth, money means far less than direct involvement.  Donating actual time is often the most valuable thing someone of normal financial means could do.  It helps both parties more than people might think.  So thank you for donating.  I suggest to all folks, if you can ever spare a couple hours, volunteer in your community on any of thousands of things out there needing help.  Usually you'll benefit even more than the work you put into it.  

 

Yep. That’s why I felt it was admirable on my wife’s part to be willing to spend 5 hours in a soup kitchen serving the homeless and cleaning up on Mother’s Day when she could have done something else on her special day. It’s definitely more gratifying like you said.

[Nadine]

59 minutes ago, Myles said:

Great point.   Time donating is far more valuable than money.   Especially when talking about the $20- $75 most of us would donate (equivalent of Irsays donation).    

Speaking as someone who did fundraising, you need both.

 

You do get some perspective volunteering.  My daughter just volunteered at a food pantry and met a single mom who has brain cancer and not enough money for food.

[JPFolks]

1 hour ago, chad72 said:

 

Yep. That’s why I felt it was admirable on my wife’s part to be willing to spend 5 hours in a soup kitchen serving the homeless and cleaning up on Mother’s Day when she could have done something else on her special day. It’s definitely more gratifying like you said.

Tell your wife thanks and Happy Belated mothers day! 

[JPFolks]

49 minutes ago, Nadine said:

Speaking as someone who did fundraising, you need both.

 

You do get some perspective volunteering.  My daughter just volunteered at a food pantry and met a single mom who has brain cancer and not enough money for food.

There's always people in need, some of us have likely been in need in our lives as well.  I know in my time doing fundraising events through the years we could find money from corporations, but actual people to do the work needed was entirely different.  Hiring temps would have been a money drain so unfortunately those people who DID volunteer always ended up being asked to shoulder the burden of too few volunteers for the job.  I know from both personal experience and in doing hundreds of fundraising events that donating $20 dollars in work instead of $20 dollars had the added bonus of helping those in need and boosting those who volunteered as well.  Bottom line, there's no shortage of need so we should all appreciate those who do help in some way and try to be one of those people ourselves when we can.