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Bernie Ecclestone has admitted that Formula 1's expansion into areas such as the Far and Middle East and Russia threatens the traditional European homes of the sport.

In an interview with the Guardian, Ecclestone acknowledged that historic venues were under threat, and circuits such as Spa and Silverstone only survived because of central funding.

"If [Spa] wasn't supported by the Government over there, it probably would go because they wouldn't be able to afford it,” he said. “It's the same with the British Grand Prix."

He went on to explain that some of the threatened European venues might decide to pull out because of the costs.

"Maybe someone will decide they need a rest because it's not working for them commercially," he added. "A good example is probably Turkey. They've built an incredible circuit and it might even be the best, but there's not much enthusiasm from the public. I don't know why."

Turning to Silverstone, Ecclestone accused the Government of failing to invest.

"The worst thing is that they have wasted a fortune on the Olympics which will come and go, and be forgotten in a few weeks, when they could have supported Silverstone and made sure the British Grand Prix is there forever,” he continued.

“The only good thing about the Olympics is the opening and closing ceremony. They do a lovely showbiz job. Otherwise, it's complete nonsense."