The Australian Formula One chief says the Melbourne Grand Prix is likely to be scrapped if leading teams like Ferrari walk away from the sport.
Ron Walker says there'll be no point holding the race if the most famous teams in the competition are not involved.
Walker says he will advise the Victorian Government to cancel the event if Formula One's leading teams carry out their threat to form a breakaway series in 2010.
He says the event's viability and credibility will be damaged without teams like Ferrari, just as the Australian Tennis Open would be if top players like Roger Federer didn't show up.
Formula One's strongest teams have revived their threat to form a breakaway series in the continuing budget row after walking out of a meeting ahead of this weekend's German Grand Prix,.
