Calgary Flames co-owner Clay Riddell has died, the team confirmed Sunday.

Paramount Resources, one of the oil and natural gas companies the 81-year-old billionaire built, said Riddell died Saturday.

“We mourn the passing of a great man of industry, sports, philanthropy and human decency along with our city, province and country,” Flames vice chairman and CEO Ken King said in a statement. “His legacies to all of us are immeasurable. To his family our gratitude, respect and deepest sympathy.”

Riddell joined the Flames’ ownership in 2003, and he relinquished his role as CEO of Paramount Resources in 2015.

“On behalf of the National Hockey League and our board of governors we extend our deepest condolences to the family of Clay Riddell,” NHL commissioner Gary Bettman said in a statement. “Clay’s passion and commitment to his city and beloved Flames will be deeply missed.”

--Field Level Media