Formula 1 legend Nigel Mansell has revealed why he chose to part with his treasured collection of memorabilia from his illustrious racing career. The 1992 World Drivers' Champion, who retired from the sport in 1995, has spent decades amassing items from his time in the behind the wheel.

Now 72, Mansell has decided to sell his lifetime's collection and give the proceeds to charity.

The former driver previously ran a car dealership and museum in St Helier, Jersey, but was forced to shut it down due to the Covid-19 pandemic.

This closure led Mansell to auction off his collection, with the bulk of his memorabilia - accumulated over 61 years - selling at BUDDS for £82,000 this week, reports the Express.

• Michael Schumacher's brother's ex-wife responds to wedding plan after burning her dress

• F1 star Kimi Antonelli crashes rare £180k Mercedes he owned for days as team issues statement

“The best thing I can do is let fans around the world look after my collection for the future,” Mansell told The Observer.

JOIN US ON FACEBOOK!All the best sports news and much more on our dedicated Facebook page

Shortly after being forced to close his museum and car dealership, Mansell's wife Roseanne required heart surgery following complications, which the racing icon claims is a result of the Covid-19 booster vaccine.

“It was a Covid tragedy; the booster, as with many people, caused problems with one of the heart valves,” Mansell claimed.

“Unfortunately, she had to have major surgery to try and fix it. Covid was criminal. Everyone should’ve been left to their own. All this vaccine caused a lot of people to have a lot of problems.”

The funds raised will benefit Youth UK, a charity where Mansell has served as president for 27 years. Among the items auctioned was a 1:2 scale Ferrari helmet, signed and gifted by Hamilton, which sold for £1,800, according to The Telegraph.

Ensure our latest sport headlines always appear at the top of your Google Search by making us a Preferred Source.

Click here to activate or add us as Preferred Source in your Google search settings.

The Telegraph also reports that Mansell's auction included race-worn gloves from F1 legend Michael Schumacher, which fetched £2,200.

Mansell then shared his thoughts on Hamilton's debut season at Ferrari, where the 41 year old finished sixth in the World Drivers' Championship standings, trailing winner Lando Norris by 267 points.

Despite a disappointing first campaign at Ferrari, Mansell has backed Hamilton to enjoy a far more successful second season.

“I don’t want to put any pressure on him but I think Lewis is going to have a fantastic year,” Mansell said.

“He’s a young 41. He’s strong as an ox and super fit. If Ferrari put the car underneath him that he deserves he can do the business still and get that magical eighth world title. I don’t think it’s over yet.”