Bernie Ecclestone is selling his entire collection of Formula One cars, which is expected to be worth more than £300million to the sport’s former supremo.

Ecclestone, 94, ran F1 for four decades and his lot of 69 cars – which spans 70 years of Grand Prix racing – is considered to be the greatest assembly of motor racing machines in the world.

The Ferrari which carried Michael Schumacher to his third of five consecutive world championships with the team leads the collection.

British driver Stirling Moss’ 1958 Vanwall – and his compatriot Mike Hawthorn’s title-winning Ferrari from the same season – have been made available to buyers.

Cars driven by multiple world champions Ayrton Senna, Alberto Ascari, Niki Lauda and Nelson Piquet will also feature in the sale, which is being overseen by exclusive high-end car dealer Tom Hartley Jnr.

Explaining the decision to give up his collection, Ecclestone, married to Fabiana, 48, said: “I love all of my cars but the time has come for me to start thinking about what will happen to them should I no longer be here, and that is why I have decided to sell them.

“After collecting and owning them for so long, I would like to know where they have gone and not leave them for my wife to deal with should I not be around.”

Ecclestone, deposed by F1’s American owners Liberty Media in 2017, added: “I have been collecting these cars for more than 50 years, and I have only ever bought the best of any example.

“Whilst many other collectors over the years have opted for sports cars, my passion has always been for Grand Prix and Formula One cars.

“A Grand Prix and in particular a Formula One car is far more important than any road car or other form of race car, as it is the pinnacle of the sport, and all the cars I have bought over the years have fantastic race histories and are rare works of art.

“Having collected what are the best and most original Formula One cars dating back to the start of the sport, I have now decided to move them on to new homes that will treat them as I have and look after them as precious works of art.”