Formula 1 chairman Chase Carey has admitted that the sport’s owners are preparing for “the remote possibility of no racing in 2020”.
He said they discussed with lenders how to handle the loss of income involved in not being able to run a season.
But he emphasised: “We are increasingly confident – although there are no guarantees – that we will have a 2020 championship season.”
F1 released figures showing income fell by 84% in the first quarter of 2020.
Owner Liberty Media said F1’s revenue in the first quarter of 2020 was $39m (£31.6m) compared to $246m (£199m) in the same period in 2019.