"I have news and unfortunately it is not good."

Such were the words of Luca di Montezemolo after the former boss of Ferrari talked to reporters on Thursday according to the BBC.

Di Montezemolo did not confirm whether Schumacher had already passed, though the tone of the former Ferrari supremo is an indicator.

"Life is strange," Di Montezemolo was quotes as saying. “He was a fantastic driver and only had one accident with Ferrari in 1999."

Michael Schumacher, the seven time Formula One World Drivers' Champion, suffered head injuries after an unfortunate skiing accident over 2 years ago.

Schumacher won his first F1 championship with Benetton in 1994 and defended it in 1995. In 1999 he moved to Ferrari and secured 5 successive championships from 2000 to 2004. He last drove for Mercedes-Benz from 2010 to 2012.