FORMULA 1 IN THE PITS AS NEWCOMERS STALL DUE TO LACK OF FUNDS

Ecclestone said: “I think we won’t see [the Spanish team] Campos and I don’t think we will see the Americans.”

He said that his terms allow any team to miss up to three races. This could lead to a patchwork starting grid, with some of F1’s 13 teams coming and going, depending on whether they can afford to race.

If fewer than eight teams turn up to a race the F1 Group may also have to pay hefty fines for breaching its contract with the governing body that grants it the commercial rights to the sport.

A team based in Serbia is ready to take the position of any that drop out and is planning to buy the assets of Toyota’s moribund team.

Ecclestone said: “They have got the money from the Serbian government, I’ve spoken to the prime minister.” Honda, BMW and Toyota have pulled out of the sport.