Niki Lauda, a three-time F1 world champion and Mercedes’ non-executive chairman sadly passed away earlier this week.

Now, it has been announced by Formula One that there will be a minute’s silence on the starting grid prior to this Sunday’s Monaco Grand Prix.

All 20 drivers with dignitaries and a number of Lauda’s contemporaries will each hold a red cap, made famous by the Austrian, during the period of silence.

The minute’s silence won’t be the only sanction that will be happening on Sunday.

Lauda’s trademark red cap was famous in the paddock, so it’s fitting that the garment will play a key part as the F1 community celebrates the legendary Austrian champion’s life.

Formula 1, the FIA, the Automobile Club de Monaco and all ten teams at the race have given the opportunity to all fans that are attending the race in Monaco to pay their own tribute however they feel necessary.

Fans are obliged to wear either a red cap, display a message on a banner, or even applaud the F1 legend. Viewers who are watching from the yachts in the harbour are invited to sound their klaxons in appreciation to Lauda.

Toto Wolff, who worked closely with Lauda at Mercedes, is continually crying over his death and claims that their current British driver Lewis Hamilton is in a similar state.

"Maybe Lewis and I are in a similar frame of mind, because we have lost a friend.”

Britain’s five-time world champion has not yet spoken in depth about the recent passing of the F1 legend; he withdrew from a press conference this week which was previewing the upcoming Monaco Grand Prix.

On Thursday, in an emotional press conference, Wolff spoke publicly since Lauda’s passing about his grief.

"The last 48 hours have been terrible,” said Wolff.

"I feel like a zombie. Every half an hour, I keep looking at pictures of him with tears in my eyes because he is not here anymore.

"I got a text from Niki's wife Birgit on Monday evening and since then I have not been myself. It feels so surreal to be in a Formula One paddock with Niki not alive anymore.”