Jordan was known for his flamboyant lifestyle and his many showbiz friends. He also played the drums in a band called Eddie & The Robbers, a nod to his reputation as a colourful businessman.

Jordan famously gave Schumacher his F1 debut at the 1991 Belgian Grand Prix, before the German was poached by the Benetton team for the following race in Italy.

After a difficult few years struggling for funds, Jordan landed a major sponsorship deal with the cigarette brand Benson & Hedges for 1996, securing the funds needed to develop into a front-runner.

By mid-1998, the team were challenging the top teams, and Jordan’s first victory was scored by Hill in a soaking wet 1998 Belgian Grand Prix.

German Heinz-Harald Frentzen, who had replaced Hill at Williams for 1997, won two further races after going to Jordan in 1999 and briefly fought for the title.

Jordan’s final win was by Giancarlo Fisichella at the 2003 Brazilian Grand Prix, a victory that was first given to McLaren’s Kimi Raikkonen after a chaotic wet race before Jordan appeared to establish that the Italian was the correct winner on results countback.

The team was sold to the Russian-Canadian businessman Alex Shnaider in 2005, becoming Midland Racing. It has since been known as Force India, Racing Point and is now Aston Martin.

Jordan’s last big involvement in F1 was to broker the deal for design legend Adrian Newey to join Aston Martin this year.

The two had become friends and Jordan acted as Newey’s manager throughout negotiations with various teams after he decided to leave Red Bull.

F1 chief executive Stefano Domenicali said he was “deeply saddened” by Jordan’s death, adding: “With his inexhaustible energy he always knew how to make people smile, remaining genuine and brilliant at all times.

“Eddie has been a protagonist of an era of F1 and he will be deeply missed.

“In this moment of sorrow, my thoughts and those of the entire Formula 1 family are with his family and loved ones.”