According to authorities, Indianapolis Colts owner Jim Irsay has been arrested on suspicion of drunken driving. Irsay, 54, was in the Indianapolis suburb of Carmel at the time of his arrest and is being held  $22,500 bond,

He was charged with driving while intoxicated and possession of a controlled substance, Hamilton County Sheriff's Department confirms.

Irsay, became the Colts owner in 1997 after the death of his father, Robert Irsay.

Irsay has undergone treatment in the past for his dependency on painkillers.

Further details of the arrest have not been released so far.

Forbes magazine estimated Irsay's net worth at $1.6 billion.

Photo by Ronald Martinez/Getty Images