New Owners Might Break NFL’s Glass Ceilings

Irwin Kishner, co-chair of Herrick's Sports Law Group and co-chair of Herrick's Corporate Department, spoke to Law360 about the transition of ownership in the NFL through succession planning.

With the passing of the current owner of the Indianapolis Colts, Jim Irsay, team ownership transitioned to his three daughters, which, according to the article, "proceeded according to long-established plans to retain family ownership." The sisters' titles will be CEO, executive vice president and chief brand officer and they have said that they "each expect to oversee the areas they've worked in before, even as they share responsibilities as co-owners and anticipate that they'll occasionally disagree."

"It certainly appears, from the outside looking in, that the Irsays had this succession plan in place from the beginning, which is nice to see,'' said Irwin, after the Colts made it official. "Hopefully, the owners are communicative and get along, as acrimony in familial situations can lead to unintended consequences.''

Still, Irwin said he stood by the concerns he voiced before the official announcement. He said then, "It remains to be seen how this all plays out, and it will be interesting to look back a year from now to see what and where things landed.'

The article notes that "the official announcement is not technically official, as the league owners are still required to vote to approve the new ownership team and structure." 

Read the full article in Law360 here. Access may require a subscription.