Muhammad Ali placed on life support

Update, 7:11 pm ET: NBC News is reporting that Ali is in "grave condition":

Muhammad Ali is in "grave condition" in a Phoenix-area hospital, a well-informed source tells NBC News, as the boxing legend continues to battle a respiratory condition.

The 74-year-old former heavyweight champion's family has gathered by his beside just a day after he reported had been hospitalized in what was to be a "brief" stay, according to his spokesman Bob Gunnell.

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Muhammad Ali, arguably the greatest boxing legend of all time, has reportedly been placed on life support in Phoenix, Arizona, where he was admitted yesterday for a respiratory condition, which The Mirror is reporting has been complicated by his Parkinson's disease.

The report says that Ali's wife and nine children are all with him at this point, and that there is concern that the end is near for the former world heavyweight champion, whose popularity and impact spread far past just the boxing world, making him one of the true cultural icons of the last century.

The children flew in last night from around the US as doctors said the future survival of the champ was "uncertain".

Although there were discussions about transporting him to another area of the hospital, sources claimed doctors decided the move "potentially could be deadly," and the transfer was called off.

We'll have more on this story once there is more to talk about, but for now we at BLH send our best wishes to the family and loved ones of Muhammad Ali. Our thoughts are with you.