Boxing legend Muhammad Ali has died at the age of 74, according to a statement released by his family. Ali was hospitalized in the phoenix area as family members gathered by his bedside yesterday. The iconic sports figure was fighting respiratory issues that were complicated by the parkinson's that he was diagnosed with in the 1980s. Ali had been hospitalized several times in recent years. Ali's family said his funeral would be held in his hometown of Louisville, Kentucky. In a statement, Ali's family thanked the public for the outpouring of support. Louisville mayor Greg Fischer ordered flags to be lowered to half-staff in Ali's honor. He also announced the city would hold a memorial for the boxing legend.