FIA president Jean Todt has admitted Formula 1 could be forced to drastic action to survive if some teams don't survive, including "a cost cap of $50 million without exceptions".
Six weeks after the Australian GP was meant to get underway, Formula 1 has yet to turn a wheel in anger.
10 races have either been postponed or cancelled with France the latest to add its name to the list.
There is, however, some good news as the season could get going in July with a double-header at the Red Bull Ring before heading to Silverstone.
F1 chief Chase Carey has laid out his ideal schedule but nothing is set in stone just yet.
The longer the hiatus continues, the more financial pressure is being heaped on the teams.
Liberty Media has already given some teams a cash injection but still, there are fears that one, or even more teams, won't survive the crisis.
Todt says if that happens Formula 1 is going to need to take drastic steps to survive, including a massively reduced budget cap.
At present, the teams are arguing over dropping the 2021 cap from $150m to $145m in 2022 and $130m the following season.
Todt says $50m may be the end result.
Asked what would happen if 'three of four teams don't survive', the Frenchman told Auto Motor Und Sport: "Then we would have to ask the owners of commercial rights fundamental questions.
"What should Formula 1 look like in the future?
"In the worst scenario, Formula 1 as we know it today would no longer be possible.
"With a cost cap of $50 million without exceptions it would be nothing like it is.
"It would be a completely new Formula 1. A Super Formula 2."
- TEAMtalk media