Wednesday saw the sport of Formula 1 come together as news of Ferrari chairman Sergio Marchionne sadly passing away aged 66.

Complications from surgery on his shoulder saw Marchionne's health take a turn for the worse last week and he was quickly replaced in his roles at Ferrari and Fiat.

“Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone,” Fiat Chrysler chairman John Elkann said in a statement.

Following the news, many have paid tribute to the former Ferrari chairman, including Formula 1's current chairman and CEO, Chase Carey.

And Carey has labelled Marchionne's contribution to the sport as 'immeasurable'.

“We are deeply saddened by the passing of Sergio Marchionne," he said, per Motorsport Week.

“He was a great leader of not just Formula 1 and the automobile world, but the business world overall.

“He led with great passion, energy and insight, and inspired all around him. His contributions to Formula 1 are immeasurable.

“He was also a true friend to all of us and he will be deeply missed.

“At this difficult time we extend our deepest sympathies to his family, friends and colleagues.”

Mercedes boss Toto Wolff also expressed his condolences to Marchionne's friends and family.

"This is a sad day for all of us in F1," said Wolff.

"We have a lost a huge supporter of our sport, a fierce competitor, an ally and a friend.

"Our heartfelt sympathies are with Sergio's family and all at Ferrari at this difficult time."

Having joined Fiat in 2004, Marchionne was instrumental in Ferrari’s return to championship contenders, who have once again risen to the top, having won four of the 11 races so far this season.

Despite Sebastian Vettel's nightmare showing in Germany last weekend, Ferrari are still challenging for both the constructors' and drivers' titles in 2018.