DETROIT (AP) - The owner of the Detroit Tigers and Red Wings has died.

The family of Mike Ilitch has released a statement saying the billionaire pizza magnate died in a hospital on Friday at age 87. A family spokesperson provided no other details.

Ilitch and his wife opened their first Little Caesars restaurant in suburban Detroit in 1959, and the business grew into the world's largest carry-out pizza chain. He paid a reported $8 million for the Red Wings in 1982, one decade before purchasing the Tigers for $85 million.

Ilitch won praise for keeping his professional sports teams in the city as the Lions and Pistons relocated to new suburban venues.