Adam Parr, the chief executive of the Williams F1 team, has warned that the sports independent teams aren't the only ones that could be hit by the current uncertainty over the global economic market.

The credit crunch has hit financial markets all over the world, with governments being forced to step in to provide support for banks in both the United States and Europe.

FIA president Max Mosley has called for urgent talks to bring costs in F1, one of - if not the - most expensive sport on the planet, down from what he describes as an 'unsustainable' level, with talks set to take place between the FIA and the Formula One Teams Association following the Chinese Grand Prix in Shanghai later this month.

The sport has already lost one team after Super Aguri was forced to close its doors earlier this year, while Mosley himself has admitted that smaller teams such as Force India and Red Bull would be at risk were it not for the backing provided by billionaires like Vijay Mallya and Dietrich Mateschitz.

However Parr - who admitted earlier this month that while F1 was in rude health, costs had to be brought down urgently - warned that it wasn't just the so-called smaller teams who could be at risk by the economic climate and that the big spending manufacturers could be forced to withdraw from the sport.

"There is a serious possibility that one or two teams may pull out and they could be manufacturer teams," he told BBC Oxford. "The assumption is that it would be an independent team, but I don't think this is necessarily the case.

"What is broken in Formula One is, in broad terms, the revenue available to the teams is less than the costs of participating in the sport."

Should the F1 grid shrink below its current level of 20 cars, Mosley has warned that the grid could cease to be credible; hence the current desire to bring costs down.

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