Formula 1 is drawing plans to host races in new venue even as chief executive Chase Carey warned there’s no guarantee that the season will go ahead. Also Read - Virtual Rallies, Conferences: This is How BJP Plans to Celebrate First Anniversary of Modi Govt 2.0

His comments came on Thursday when Liberty Media, the company which owns F1, said it has incurred losses in excess of USD 200 million in the first quarter of 2020. Till date 10 races have either been postponed or cancelled for the 2020 season. Also Read - On First Day of Last Week of Lockdown 4.0, India Reopens Its Skies; Highest Single-Day Spike of 6,977 Recorded | 10 Points

“We are increasingly confident – although there are no guarantees – that we will have a 2020 championship season,” Carey was quoted as saying by BBC. Also Read - Uttar Pradesh News: State Govt Releases 2257 Convicts on Parole For 8 Weeks to Decongest jails

During a conference call discussing F1’s earnings in the first quarter of the year, Carey said they are in talks with new venues as well to put together race calendar.

“We have been working tirelessly since Australia and we’re actively engaged with our promoters in putting together a potential 2020 race calendar,” Carey said. “We have two primary challenges: identifying locations where we can hold the race, and determining how we transport all necessary parties and their equipment to that location for a race.”

“We’re in discussions with all of our promoters as well some tracks that are not currently on our 2020 calendar to make sure that we explore all options,” he added.

The target remains to start the season by early July in Austria with plans to race consecutive weekends.

“Our goal is to launch the season on the weekend of July 4th and 5th in Austria. It is likely that we race the weekend of July 11th and 12th in Austria as well,” he said.

Carey said they are working out the logistics with International Automobile Federation (FIA) and other experts.

” We expect the early part of the calendar to be races without fans but we hope to be able to allow fans to attend in the latter part of the year,” he said.

“We are working with the FIA, local authorities and other experts to identify the steps and procedures necessary to safely transport everyone to each race location and to enable those individuals to operate and be housed in a safe and secure manner,” he added.