Most of former Colts owner Jim Irsay's prized memorabilia scheduled to be auctioned off in March

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INDIANAPOLIS (AP) — Most of former Indianapolis Colts owner Jim Irsay's prized memorabilia is scheduled to be auctioned off in March, Irsay's daughters announced Thursday.

Jim Irsay died in May at the age of 65, and the team is now being run by his three daughters — Carlie Irsay-Gordon, Casey Foyt and Kalen Jackson. In a statement, they said the decision was not made lightly but with “deep reflection and love" for their father's legacy.

New York-based auction house Christie's will conduct the auction starting in March. Christie's will hold free public exhibitions in New York at its location in Rockefeller Plaza. The Irsay daughters said a portion of the proceeds will be donated to philanthropy.

“Our dad was a passionate collector, driven not by possession, but by a profound appreciation for the beauty, history and cultural resonance of the items he curated," they said in a statement released by the team. "From iconic instruments to handwritten lyrics by legends to rare historical artifacts and documents, each piece in the collection tells a story — and he was always so excited to share those stories with the world.”

The massive collection includes everything from Jack Kerouac's original manuscript of “On The Road” and the Big Book of Alcoholics Anonymous, the foundational text for the program; more than 200 famous guitars and other musical instruments that were used by everyone from The Beatles to Prince; Muhammad Ali's WBC championship belt from the famous “Rumble in the Jungle” fight with George Foreman and the saddle used in Secretariat's Triple Crown run; and a more than 200-year-old copy of the Declaration of Independence.

Guitar World once reported Irsay was offered $1 billion just for the guitars and dubbed it the greatest guitar collection on Earth.

“Christie’s is honored to offer this magnificent collection, so lovingly compiled, maintained, and shared by legendary collector Jim Irsay over decades,” said Julien Pradels, president of the Christie’s Americans region. “These extraordinary objects will be made available to passionate collectors around the globe, who have a once-in-a-lifetime opportunity to own a piece of history, and provide this exquisite collection its next chapter."

In recent years, Irsay would take his collection on tour for public viewing and he sometimes performed in a band during tour stops.

“We believe it’s time for a new life for the collection,” the family said. “It’s our sincerest hope that these artifacts find future stewards who understand and cherish their significance.”

The Irsay daughters also have put at least two of Irsay's homes up for sale, too.

Irsay owned the Colts from 1997 until his death earlier this year after growing up in the organization, starting as a ball boy when the team called Baltimore home. He became the youngest general manager in NFL history at age 24 following the team's move to Indianapolis in 1984 and continued to work in various capacities until his father, Robert, died and he took over as owner.

He was inducted into the team's Ring of Honor earlier this season, and the Colts (7-1) have been wearing a “JI” patch on their jerseys as they have posted the NFL's best record through eight games.

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