Pistons Owner Bill Davidson Dies at 86

The NBA lost a legend Friday evening when Detroit Pistons owner Bill Davidson, 86, passed away at his home. The exact cause of death has not been released, but his health had been in decline the last few years. Once a regular fixture in his courtside seats near the Pistons bench at home games, his appearances this season became increasingly rare. His wife Karen Davidson will succeed him in the role of team owner.

Davidson's name was rarely in the headlines, but he was one of the most successful and innovative owners in professional sports. Under his ownership, the Pistons won three NBA championships, the Detroit Shock won three WNBA championships and the Tampa Bay Lightning won the Stanley Cup.

He was the first owner in the NBA to provide his team their own private jet, and he was the first to include luxury suites in his privately-funded arena, the Palace of Auburn Hills. In the years that followed, nearly every team has followed in his footsteps, and even though the Palace is now one of the oldest buildings in the league, it remains one of the league's premier home courts.

Last summer, Davidson was inducted into the Basketball Hall of Fame, not only recognized for his teams' success on the court but also credited for sharing his business acumen to help the league solidify its standing domestically and expanding its marketing reach internationally.

"Over the last 35 years, Bill Davidson's impact on the sports world and the NBA in particular has truly been legendary," David Stern said in a statement released by the NBA. "From his seven championships in three different leagues during his Hall of Fame career to his incredible business successes to his extraordinary community service, Bill set a standard for ownership in sports that will be difficult for anyone to match. The NBA family has lost an innovative thinker, a visionary businessman and most importantly, a trusted friend. I want to extend our condolences to Karen and the entire Davidson family during this time. Bill's influence on our league will never be forgotten."

As CEO of the privately-held Guardian Industries, Davidson employed over 19,000 people while becoming one of the wealthiest people in country. Although he was most famous as the owner of the Pistons, Davidson was also an extremely generous supporter of the arts and charitable causes, giving over $200 million to various universities, hospitals, orchestras and other organizations over the years.