Three-time Formula 1 world champion Niki Lauda has di🦂ed at the age of 70.

In a statement issued to the Austrian Press Agency on Tuesday morning, it was confirmed by Lauda's family that he had p🌞assed away on Monday, nine months after undergoing a lung transplant.

"In deep mourning, 🧸we announce that our beloved Nik🌊i has passed away peacefully with his family on Monday," the family statement read.

"His unique achievements as an athlete ꦍand entrepreneur are and will remain unforget🐻table. His tireless drive, straightforwardness and courage remain an example and a benchmark for all of us."

"He wꦿas a loving and caring husband, father, and grandfather away from the public."

Lauda rose to prominence in F1 iꦺn the 1970s, winning his f💖irst world championship with Ferrari in 1975.

The Austrian sustained life-threatening burns and injuries in an accident at the German Grand Prix in 1976, but remarkably returned to racing just six weeks later, narrowly missing out on the world championship💮 to James Hunt that year♔. He would go on to clinch a second title in 1977.

Lauda took a three-year break from F1 at the end of 1979 in order to focus on his commercial interests, but returned in 19𒁏82 with McLaren, going on to win a third and final world title in 1984.

He remained a regular figure in the paddock for another three decades following his retireme🐼nt in 1985, most recently enjoying a non-executive role with Mercedes during its recent dominance of F1.