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Former Mr. Olympia Franco Columbu Dead at 78

Franco Columbu, a former Mr. Olympia and one of Arnold Schwarzenegger's closest friends, has died.

Franco died Friday, with reports out of Italy saying the legendary bodybuilder lost his life in an incident at sea in his native Sardinia.

Arnold said goodbye to Franco with a heartfelt message ... writing, "I love you Franco. I will always remember the joy you brought to my life, the advices you gave me, and the twinkle in your eye that never disappeared. You were my best friend."

Franco won Mr. Olympia way back in 1976, the year after Arnold retired from the famous bodybuilding competition.