Indianapolis Colts owner Jim Irsay has been suspended six games and fined $500,000 after pleading guilty to one misdemeanor count of operating a vehicle while intoxicated. The NFL announced the penalties Tuesday, stating that Irsay violated the league's personal conduct policy. The suspension takes effect at 5 p.m. ET on Wednesday, and Irsay will be eligible to return after Indianapolis' game against the Houston Texans on Oct. 9. Hours prior to the NFL's announcement, Irsay was in an Indiana courtroom, pleading guilty to a misdemeanor account of driving while intoxicated. The 55-year-old Irsay admitted to a judge he was under the influence of the painkillers oxycodone and hydrocodone when he was arrested on March 16 near his home in the Indianapolis suburb of Carmel. Irsay's toxicology report also showed he had alprazolam, which is used to treat anxiety, in his system when he was arrested. Alprazolam, which goes by the trade name Xanax, can be habit-forming and is a schedule IV controlled substance. It is used to treat anxiety disorders and panic disorder and sometimes used to treat depression, among other symptoms. "I acknowledge the mistake I made last March and stand responsible for the consequences of that mistake, for which I sincerely apologize to our community and to Colts fans everywhere," Irsay said in a statement released shortly after the NFL announced the penalties. "Even more importantly, though, I am committed to do everything in my power to turn this whole experience into a positive event for myself, my family, and the community." Source: ESPN