Formula One bosses are set to meet on Monday to discuss cost saving plans with the 2020 season in disarray after the coronavirus pandemic resulted in either postponement or cancellation of as many as eight races. Also Read - Sanitizing Lanes, Places of Worship, This Woman is Doing Her Bit in COVID-19 Times

McLaren chief executive officer Zak Brown fears the impact on F1 will be devastating unless an aggressive solution isn’t found. Also Read - 'Why Can't Private Hospitals Built on Free Land Give Free Treatment to COVID-19 Patients', SC Asks Centre

“This is potentially devastating to teams, and if [it is devastating] to enough teams – which doesn’t have to mean more than two – then very threatening to F1 as a whole,” Brown told BBC. “Could I see – through what is going on right now in the world if we don’t tackle this situation head on very aggressively – two teams disappearing? Yeah.” Also Read - Nokia Suspends Operations at Its Tamil Nadu Plant After 42 Employees Test COVID-19 Positive: Report

He continued, “In fact, I could see four teams disappearing if this isn’t handled the right way. And then, given how long it takes to ramp up an F1 team, and given the economic and health crisis we are in right now, to think there would be people lined up to take over those teams like there has historically been… I don’t think the timing could be worse from that standpoint.

“So I think F1 is in a very fragile state at the moment.”

Already the F1 teams have agreed to several changes including deferment of a major rule change to 2022 and using the same cars for 2020 and next year.

The teams, Brown says, have also accepted to limit their annual budget cap for next year to USD 150 million but Brown wants it to be come down even lower in light of the financial hit the sport will take due to a curtailed season whenever it begins. “You have everyone at $150m, and the strong majority – including one of the big teams – willing to come substantially under $150m,” he said.