Michael Schumacher has been awarded the FIA's coveted 'Gold Medal for Motorsport' for his contribution to motor racing as he embarks on a winter period as a retired driver for the first time.

Given to those who have been thought to those who have either had exceptional success or made a substantial contribution to motor racing, Schumacher's seven world titles and exceptional records made him an obvious choice at the Awards Gala in Monaco.

Schumacher was naturally thrilled to receive the award and used the opportunity to thank those who have helped him become the most renowned racer in history.

“I have received a huge amount of joy and pleasure from motor sport. To all of you and all of the people everywhere I really want to express my thanks. I have had such a love for this sport, it doesn't need motivation.

“You do it as good as you can and luckily I have a lot of great people around me who have allowed me to achieve what we have achieved together.”

As Max Mosley states though, Schumacher's credentials went beyond what he managed on the circuit, with the FIA also honouring his actions off the track.

“It's a career that has never been equalled in the past and probably never will be in the future. In addition to his extraordinary achievements on the track I have to say Michael has helped us enormously with all sorts of work on road safety all over the world.”