In some ways, yes.
Manning retired on the day that Irsay released him, 4 years later. That was no coincidence.
Upon getting released from the Colts, Irsay made the comment towards Manning as an owner that he wanted "Super Bowls and not Star Wars numbers" in reference to Manning's stats and multiple MVP seasons. Regardless what anyone says about how Manning was treated by the Colts in that last year and their tank job to take Luck, it's indisputable that Irsay had no business doing that press conference with him and then insulting him right to his face that he didn't win enough SBs for him. That press conference was terrible and many Colts fans still to this day hate Irsay for that.
Since then though, there has been some repairing of the bridge. The Colts built a statue for him and honored him along with the 2006 SB winning team, but there is a reason Manning decided to retire with the Broncos instead of the team that drafted him. It starts and ends with how Irsay treated him on his way out.