Three-time Formula One champion Niki Lauda has died aged 70 following a period of ill health.

Lauda won his three world championships in 1975, 1977 and 1984 and is currently the only driver to have been champion for both Ferrari and McLaren, the sport’s two most successful constructors.

The Austrian was considered by some to be one of the greatest F1 drivers of all time.

Once he retired from the sport he founded and ran three airlines and was also a consultant for Ferrari and team manager of the Jaguar Formula One racing team for two years.

Having emerged as Formula One's star driver amid a 1975 title win and leading the 1976 championship battle, Lauda was seriously injured in a crash at the 1976 German Grand Prix at the Nürburgring during which his Ferrari burst into flames, and he came close to death after inhaling hot toxic fumes and suffering severe burns.

However, he survived and recovered enough to race again just six weeks later at the Italian Grand Prix. Although he narrowly lost the title to James Hunt that year, he won his second Ferrari crown the year after during his final season at the team.