Mike Ilitch, the owner of the Detroit Tigers and Detroit Red Wings, has died at the age of 87.
Ilitch, who co-founded Little Caesars in 1959, purchased the Red Wings for $8 million in 1982 and the Tigers for $85 million in 1992.
The Red Wings won four Stanley Cup championships under his ownership, in 1997, 1998, 2002 and 2008.
The Tigers reached two World Series under his ownership, losing both times.
Ilitch also founded the Little Caesars pizza chain and is a member of the National Hockey League Hall of Fame.
Ilitch Holdings released a statement following the passing of Mike Ilitch which reads in part:
"It is with great sadness that I inform you of the passing of my father, Mike Ilitch, our beloved colleague, friend and leader. Mr. I, as so many of you affectionately called him, died this afternoon at a local hospital. He was 87."
"As many of you know, my father loved his family dearly. He is survived by his wife and my mother, Marian Ilitch, his partner in life and in business. They have seven adult children (Denise, Ron, Michael Jr., Lisa, Atanas, me and Carole), 22 grandchildren and three great-grandchildren. Mr. I’s love extends to the many thousands of colleagues, players, coaches and franchisees, whom he regarded as his extended family. I know firsthand how much he truly cared for each of you."
Ilitch's family is planning a private funeral service although an opportunity for members of the public to pay their respects is also being planned.
Details will be announced once plans are finalized.
