Formula One faces a potential walkout from Lotus, Force India and Sauber which would leave Sunday’s US Grand Prix in ruins. With the sport already reeling from the collapse of Caterham and Marussia in the past week, the latest twist in events has created a full-blown crisis as the smaller teams demand clarification concerning the future of the sport.

Bob Fernley, the deputy team principal of Force India, said yesterday: “All options are open and have to be left on the table.” Ultimately that would mean not taking part in Sunday’s race.

“It’s a very serious situation and teams want to know where they stand. F1 is at a crossroads. Teams have been driven out of the sport. How many more teams need to be driven out?

“The disenfranchised teams [not including the top six who are part of the recently formed Strategy Group] need to know where they stand. The sport is in a crisis and it’s got to be looked at. It’s a very serious situation.”

Another executive told The Times: “It is 50-50 whether it happens but what else is there? The small teams have complained for months and warned what was going to happen but no one listened.”

Any boycott would bring back memories of the 2005 US Grand Prix at Indianapolis. Only six cars raced after seven of the teams decided to pull out of the race after completing the first lap as they protested against unsafe tyres.

However, the chief executive of the Formula One Group, Bernie Ecclestone, remained impassive when informed of the threat on Friday night. “If we lose another two teams that is what will happen. We need [small teams] if they are going to be there performing properly and not moving around with begging buckets,” he said.