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Barbara Slater, BBC Director of Sport added: "Jimmy Hill was an iconic and unique figure and we are all deeply saddened by the news.
"He was one of the great innovators and a huge talent, a man ahead of his time with a personality that dominated his era both in football and broadcasting.
"Jimmy was also a dear friend and colleague to many at the BBC and will be greatly missed."
Some of the other ideas Hill helped make a reality included establishing a player's right to freedom of movement at the end of his contract and the introduction of three points for a win.
He also commissioned the first English all-seater stadium, lifted a ban on media interviews, introduced the first electronic scoreboard in 1964 and the first colour match-day programme.
The former Brentford and Fulham forward was appointed Coventry manager in November 1961, leading the Sky Blues to the Division Three and Division Two titles.
There is a statue of Hill at Coventry's Ricoh Arena where he was also chairman - a role he also had at Fulham and Charlton.
He became a broadcaster and head of sport for ITV in 1967, before moving to the BBC six years later where he became presenter of Match of the Day until he handed over the reins to Des Lynam in 1989.