Since the footage emerged, several notable persons in the Formula One Community have come out to defend Sir Hamilton and criticise Piquet for his condemnable choice of words.
Former Champion issues apology to Lewis Hamilton over racist remarks
Earlier in the week, footage emerged showing the Brazilian discussing the 2021 British Grand Prix while on a podcast. Piquet was criticising Hamilton's driving before using a racial slur on two separate occasions.
However, on Wednesday, Piquet came out to say that his statement was mistranslated and the word used had other meanings in his native tongue. Piquet through his representatives released a statement on Wednesday which read: "What I said was ill-thought-out, and I make no defence for it, but I will clarify that the term used has widely and historically been used colloquially in Brazilian Portuguese as a synonym for 'guy' or 'person' and was never intended to offend.
"I would never use the word I have been accused of in some translations. I strongly condemn any suggestion that the word was used by me to belittle a driver because of his skin colour.
"I apologise wholeheartedly to anyone that was affected, including Lewis, who is an incredible driver, but the translation in some media that is now circulating on social media is not correct. Discrimination has no place in F1 or society, and I am happy to clarify my thoughts in that respect."
Piquet, a former Formula One champion, has faced a barrage of criticism as many expect him to know better. According to ESPN, he has been banned from visiting the paddock in future as punishment for his comments about Lewis Hamilton.
Formula One returns with the British Grand Prix on July 3.