Two major sponsors set to leave F1, Chinese GP could be scratched

Two major sponsors in Formula 1 look set to exit the sport.

Mercedes has confirmed that, at least this weekend in Brazil, the logos of collapsing cryptocurrency exchange FTX will remain on the car.

It is also reported that Emirates, the Dubai-based airline, is set to leave Formula 1 after failing to agree terms for a new global sponsorship deal with Liberty Media.

Early rumours suggest Qatar Airlines is the favourite to replace them.

Meanwhile, F1 CEO Stefano Domenicali has admitted that reports the Chinese GP could be scratched from the 2023 race calendar may not be wide of the mark.

He admitted the "covid situation" in the country "remains an issue" and it is "not certain we will race there in 2023".

However, Domenicali also insisted that F1 would not struggle to replace China - even though a substitute race may in fact not be the plan for 2023.

"With 24 races, we are approaching the limit," he told Le Journal de Montreal. "But you can never say it’s over.

"Today, we are there because our success is incredible. But if we have to find a balance, I think that’s fine.

"There are many other countries that would like to host a grand prix. We could sign with seven or eight countries tomorrow morning, but of course we can’t do it."