(WXIN/WTTV) — The Indianapolis Colts are suing a Carmel-based insurance agency for over $330,000 in a disagreement over sponsorship payments.
In a lawsuit filed Wednesday in Marion County, the team alleges that InsurePlicity LLC has failed to properly pay “for the privilege of sponsoring the Colts.” The suit argues that InsurePlicity has received sponsor-exclusive benefits from the Colts despite not fulfilling their end of the contract.
The Colts say InsurePlicity signed a Sponsorship Agreement on July 13, 2022, that is governed by Indiana State Law. However, the LLC reportedly failed to pay “all amounts owed to the Colts.”
In a letter dated Dec. 31, 2024, the Colts reportedly gave InsurePlicity a formal breach-of-contract notice and stated an owed balance of $331,840.
Attorneys allege that InsurePlicity received the letter and never protested the amount owed. Yet, the Colts say they have not received any payment from the company since September 2024.
The suit goes on to say that at least $331,000 is owed by InsurePlicity, plus interest. According to the Colts, the interest rate for nonpayment on the sponsorship agreement is 1.5% for every month after the due date.
The Colts’ lawsuit, filed in Marion Superior Court 13, ends by asking the court to award the Colts proper damages and “appropriate relief.” The lawsuit was filed by Riley Floyd and Andrew Hull of Hoover Hull Turner LLP in Indianapolis.