Indianapolis Colts owner Jim Irsay is being treated for a severe respiratory illness, the team said Tuesday.

The team said Irsay, 64, would not be appearing with his band at the Irsay Collection event in Los Angeles this week as a result.

"He is receiving excellent care and looks forward to returning to the stage as soon as possible," the team said.

The Colts said they would provide no additional information at this time and asked that Irsay's privacy be respected as he recovers.

Irsay, who usually keeps a very public profile, has not been seen in recent weeks. It's unclear whether he has attended any recent Colts games, but Irsay has not been seen in any of the postgame locker room scenes the team routinely shares on social media. Irsay is typically front and center during coach Shane Steichen's postgame speeches and is usually seen in the videos. It's also not unusual for him to make brief comments to the team after victories.

But team officials had declined to comment on Irsay's whereabouts before releasing today's statement.

The longtime owner has faced numerous health challenges in recent years, undergoing multiple surgeries to address years-old powerlifting injuries in his shoulders and hips. Those procedures have severely impacted Irsay's mobility, leaving him to often rely on a walking cane.

Still, he has managed to keep a rigorous schedule in recent years, jetting around the country to his various Irsay Collection events while spending sustained periods in Southern California.

Irsay owns a nearly 500-piece, world-renowned collection of historic artifacts focused on music, pop culture and American history. He is believed to have invested tens of millions of dollars into it. The collection is displayed as a traveling museum and is scheduled for an exhibit at the Shrine Auditorium in Los Angeles on Thursday. Irsay has never missed an exhibition and joins the Jim Irsay Band at the accompanying concerts.

ESPN's Stephen Holder contributed to this report.