"We are all deeply saddened by the news of Mr. D's passing," Pistons coach Michael Curry said. "He's a great owner who genuinely cared for players, coaches and employees. He will not only be remembered as a great owner but also as a person who made a difference in many people's lives. Our thoughts and prayers are with Mrs. D and the entire Davidson family."

Davidson has owned the team since 1974, a span that includes NBA championships in 1989, 1990 and most recently, 2004.

He was inducted into the Naismith Memorial Basketball Hall of Fame in 2008.

During the 2003-2004 season, Davidson became the first professional sports owner to win championships in three professional leagues. In addition to the Pistons, Davidson owns the WNBA Detroit Shock and, during the 2003-2004 season, he was the owner of the Stanley Cup champion Tampa Bay Lightning.

While he owned multiple professional teams, the Pistons always seemed to hold a special place in his heart.

"I want to tell you that I love the Pistons and I will be with them until my grave," Davidson said in a 2005 interview.

Davidson, who was born in Detroit, received a bachelor's degree in business administration from the University of Michigan and a law degree from Wayne State University.

He spent three years practicing law and decided to give it up to take over a wholesale drug company, and then a surgical supply company.

After that, he took over the family business, Guardian Glass Company, which has since become Guardian Industries Corp. and is one of the world's largest manufacturers of automotive glass.

His contributions to U-M totaled more than $55 million.

Davidson is survived by his wife, Karen, and two children, Ethan and Marla.