DETROIT, MI - Little Caesars Pizza founder Mike Ilitch, the billionaire sportsman and champion for Detroit, died Friday at an area hospital.

He was 87.

"My father was a once-in-a-generation entrepreneur, visionary and leader, setting the tone for our organization and our family," his son and Ilitch Holdings Inc. President and CEO Christopher Ilitch said in a statement. "He made such a positive impact in the world of sports, in business and in the community, and we will remember him for his unwavering commitment to his employees, his passion for Detroit, his generosity to others and his devotion to his family and friends."

Ilitch was a long-time owner of both the Detroit Red Wings and the Detroit Tigers.

He started Little Caesars Pizza - famous for its HOT-N-READY pizza and Crazy Bread - in 1959 with his wife of 61 years Marian Ilitch in Garden City, and what it became tells a classic American story of great achievement sprung from humble roots.

Ilitch was born in 1929 in Detroit to Macedonian immigrants, served as a U.S. Marine, and worked as a door-to-door salesman until he earned enough money for the first restaurant, according to the statement. The world's largest carryout pizza chain now has locations in 20 countries as far-flung as Egypt and Honduras. It employs 23,000 people and posted $3.4 billion in revenues last year.

His subsequent success allowed him to invest in food, sports and entertainment, and take on charitable causes, such as the Little Caesars Love Kitchen, a veterans program and the Little Caesars Amateur Hockey Program.

"Mike Ilitch was more than just a shrewd, successful businessman. He was a Detroiter through-and-through," Mayor Mike Duggan wrote in a statement. "Whether he was making pizza, building successful sports and entertainment franchises or supporting youth organizations in our city, 'Mr. I' helped to bring thousands of jobs and opportunities to our city and attract millions of dollars of investment."

His influence in Detroit has been especially visible in recent years. A Wayne State University business school bearing his name is set to open in 2018, thanks to a $40 million Ilitch donation - announced at his last prominent public appearance in October 2015 - and a new hockey facility is under construction.

The Red Wing's $733 million Little Caesars Arena is to host its first game this fall.

Ilitch bought the Red Wings in 1982 from Bruce Norris for $8 million, and Ilitch turned it into one of the NHL's best with Stanley Cup championships in 1997, 1998, 2002 and 2008.

He was a free-spending owner who constantly pursued top free agents. Detroit, among the worst teams in the NHL throughout the 1970s and '80s, soon became a destination for top talent. The Red Wings' 25-year playoff streak is the longest current run in the four major pro sports.

Ilitch also had a passion for baseball, spending four seasons as a minor league baseball player - including a stint in the Tigers organization - before launching his business career.

Ilitch purchased the Tigers in 1992 from Tom Monaghan, transforming the franchise from also-rans into World Series contenders by acquiring stars such as Ivan Rodriguez, Magglio Ordonez and Miguel Cabrera. The team reach the World Series in 2006 and 2012 but lost both times.

In 2000, the Detroit Tigers moved into Comerica Park across Woodward Avenue from the downtown Detroit Fox Theatre, followed two years later by the Lions' adjacent Ford Field.

Ilitch also has owned the Detroit Caesars, a professional men's softball team, and the Detroit Drive of the Arena Football League.

After purchasing and renovating the theater, Ilitch moved Ilitch Holdings into the building. He began acquiring property around the theater, including multiple parking lots and vacant buildings.

In September, crews broke ground on a nine-story downtown Detroit building to be the new home of Little Caesars corporate offices. Just south of the new arena, it is to connect to the theater via a skywalk.

This is part of District Detroit, a 50-block mixed use development and contains the site of the future business school.

The project is to continue under the leadership of Christopher Ilitch, the couple's second-youngest child, according to the Ilitch Holdings statement.

"It's always been my dream to once again see a vibrant downtown Detroit," Mike Ilitch said in 2012, when he unveiled his ambitious, fanciful plan to build the new Red Wings arena with ancillary development stretching from his Foxtown properties into Cass Corridor.

A proposal that called for $250 million in taxpayer contributions, ultimately approved by the state legislature, Detroit City Council and the Downtown Development Authority, was controversial but it brought with it a promise of a $200 million investment in surrounding housing, park space and retail.

"From the time we bought the Fox Theatre, I could envision a downtown where the streets were bustling and people were energized," he said in 2012. "It's been a slow process at times, but we're getting there now and a lot of great people are coming together to make it happen. It's going to happen and I want to keep us moving toward that vision."

Ilitch is survived by his wife, seven children, 22 grandchildren and three great-grandchildren.

More than all he accomplished, he was a family man, Duggan said. "I know how Mike Ilitch adored his family and how his family adores him."

As part of a succession plan to keep the Ilitch companies family-owned, Christopher Ilitch is to succeed his parents at the helm of Little Caesars, Olympia Entertainment and Olympia Development.

"Together my family and the company celebrate the tremendous man he was, and we will continue to work hard to uphold his remarkable legacy," Christopher Ilitch said in the statement. "I'm honored to have had the opportunity to work with him to nurture and grow our businesses, but mostly, I'm grateful to have called him my dad, and I know my siblings feel the same."

The family intends to have a private funeral service.

An opportunity for the public to pay their respects is being planned. Details are soon to be announced.