Formula One: Ecclestone warning over Italian GP

The F1 supremo told reporters "What goes, goes" when asked whether the historic race at Monza, first run in 1950, could also fall victim after this year's German race was cancelled.

"There are lots of things we all would like, but we don't have them because we can't afford them," said Ecclestone, in reply to a question about F1's European heartland.

Ecclestone, speaking at Sepang ahead of the Malaysian Grand Prix, could not confirm whether the German race would go ahead next year.

He said Malaysia would "probably" extend its contract, which runs out after Sunday's race, but that a new deal had "not yet" been signed.

Ecclestone admitted "it would be terrible" if Europe lost its remaining races, and would effectively mean that Formula One was no longer a world championship.

But he added: "It's funny how these people dig up all this money for things like the Olympics, swimming championships, European athletics, and God knows what else to boost the country.

"The trouble in Germany was the Nurburgring spent an awful lot of money which they borrowed, didn't need to spend what they spent, and therefore didn't need to borrow the amount they borrowed.