Bernie Ecclestone thinks Formula One needs a Cosworth customer engine for teams to turn to after seeing Red Bull edge closer towards quitting Formula One in Sochi.

On Friday a report in Auto Motor und Sport said Ferrari had decided against giving Red Bull an up-to-date or year-old engine in 2016, seemingly leaving the Milton Keynes team facing the prospect of attempting a return to Renault or walking away from the sport altogether. The only other option would be Honda, though the Japanese company has ruled out a supply deal as it attempts to rectify the problems which have plagued its return to the grid with McLaren in 2015.

"There are more opportunities out there than people think," Ecclestone told Sky Sports when asked about the possibility of Honda supplying Red Bull.

Speaking on the Ferrari situation, he said: "Let's see. A lot of the time people say no to something, they didn't really mean no, they mean maybe. So let's see."

Mercedes has already rejected an engine supply deal for Red Bull, fearing the effects of giving its dominant power unit to former world champions Red Bull. With Ferrari reportedly doing the same Ecclestone has floated the idea of a customer Cosworth engine for teams to turn to in similar situations or if they wanted to join the grid from scratch.

When asked if current manufacturers have too much power in F1, Ecclestone replied: "Up to a point, yes. If you had a team and Mercedes were supplying you with engines and they wanted a vote on something, you'd have to put your hand up and vote for whatever they wanted otherwise maybe you're not going to get the engine you're getting.

"We need another Cosworth -- that's basically what we want. Where you and I could start a team and know we could get an engine. Today we don't know."

Cosworth, which ranks second in F1 wins as an engine supplier behind Ferrari, was on the grid as recently as 2013 with Marussia and even designed a V6 turbo engine for 2014.