The Indianapolis Colts announced the details of their team ownership transition Monday, following the death of former owner and CEO Jim Irsay. The succession plan set the groundwork for the Irsay family to retain ownership of the franchise.

The Indianapolis Colts will now be owned by the three daughters of Jim Irsay, the team’s late owner and chief executive officer.

The Indianapolis Colts announced on Monday the details of their transition of team ownership from Jim Irsay to his daughters, Carlie Irsay-Gordon, Casey Foyt, and Kalen Jackson. Effective immediately, Irsay-Gordon will become the Owner and CEO of the Colts and serve as the team's principal owner.