India, Aug. 18 -- Bill Rasmussen, who co-founded ESPN, passed away on Tuesday at the age of 93. According to a press release from the sports network, he succumbed to complications related to Parkinson's disease.

In the late 1970s, Rasmussen was dismissed from his position as communications director for the New England Whalers, as reported by The Hollywood Reporter. He reached the limit of his credit card and, using his $9,000 advance, secured crucial space on a communications satellite.

In 1979, he established ESPN with his son Scott, which would later be recognized as the "Worldwide Leader in Sports," operating as a cable channel from Connecticut.

"Bill was a remarkable man - a visionary and an innovator who conceived the idea of a ne...