Formula 1 CEO and Executive Chairman Chase Carey said that although the sport had enough resources, there is a remote possibility that there would be no races this year.

Carey admitted in a conference call that the coronavirus pandemic has had a significant effect on F1 and that they are adjusting in numerous ways. The sport's main revenue has been facing disruptions due to a lack of racing since the COVID-19 outbreak earlier this year.

In an update posted on the official F1 website, Carey mentioned that their goal is to start the first season in Austria by the first week of July, then followed by a second race on July 11-12 at the Red Bull Ring. The adjusted calendar of events will be posted and announced as soon as it is finalized.

The plan was to hold a series of races from September to November in Eurasia, Asia, the U.S., and Bahrain. Their target is to have a traditional season finale in Abu Dhabi on Dec 13, 2020. He said that it is possible to organize a championship with 15-18 races, but it is expected that the first events would be without fans.

"We still have to work out many issues like the procedures for the teams and our other partners to enter and operate in each country," he added.

Despite the coronavirus scare, Carey said that they are implementing measures to make sure that the races are safe and secure from the risk of spreading the virus. BBC reported that Carey is hopeful that the fans can attend the F1 racing events in the latter part of the year.

F1's plans are still subject to change as there are still several issues that need to be addressed and there is still a lot that is unknown about the virus. The sport has recently taken actions over the past week to cut costs for teams due to the effect of the coronavirus crisis.

Carey acknowledged that as much as they want to resume operations, they have to make sure that everything has to be done in the right and safest way amid the pandemic.

Chase Carey
Chase Carey, Formula 1 Executive Chairman and CEO lucio luci/Flickr