Vienna, May 21 (IANS): Formula One was in mourning on Tuesday after the death of Austrian three-time world champion and businessman Niki Lauda. He was 70.

"Rest in peace Niki Lauda. Forever carried in our hearts, forever immortalized in our history. The motorsport community today mourns the devastating loss of a true legend," Formula One wrote on Twitter.

Scuderia Ferrari said it was a "sad day" for the sport, Efe news reported.

"The big Ferrari family has learned with great sadness the news of the death of our friend Niki Lauda, three-time world champion, twice with Scuderia (1975-1977)," the team tweeted.

"You will forever be in our and the fans' hearts. Ciao Niki," it added.

Lauda's former team McLaren, with which he won his last title in 1984, said the legendary Austrian would be "enshrined in our history".

"All at McLaren are deeply saddened to learn that our friend, colleague and 1984 Formula 1 World Champion, Niki Lauda, has passed away. RIP Niki," the team tweeted.

Two-time world champion Fernando Alonso of Spain said: "Shocking and sad news this morning. RIP Niki."