Muhammad Ali has passed away [UPDATED]

Early Saturday morning, Muhammad Ali passed away.
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UPDATE: Early Saturday morning, hours after this post was published, Ali passed away. You can read SI's obituary here. Check back to for further coverage. 

Muhammad Ali is in “grave condition,” NBC Nightly News reports.

Ali has been in a Phoenix-area hospital since Thursday with a respiratory condition. The Associated Press reported Friday that Ali’s condition “is concerning to family members” and that the respiratory issue is complicated by Ali’s Parkinson’s disease. 

His condition was initially described as “fair” and a spokesman said his stay in the hospital was expected to be brief. 

Ali, 74, is a three-time heavyweight champion. He retired from boxing in 1981 and was diagnosed with Parkinson’s three years later.