Britain's The Telegraph newspaper reports that Formula 1 stands to lose upward of $100m, with the sport's 12 teams among the biggest losers, if the postponed Bahrain Grand Prix is not rescheduled. It reports the teams are facing the impact of penalty clauses in their contracts with sponsors that would be triggered by missing a race.

The paper cites data from F1's trade guide, Formula Money, showing that the teams are expected to lose an estimated $40m from missing Bahrain, with Ferrari set for the biggest fall at $11m. The Italian team receives more income from sponsorship than any of its rivals – and so it stands to lose more from the race being scrapped.

Bernie Ecclestone said earlier today that he would make every effort to reschedule the race for later in the season, if and when the political situation in the Gulf state stabilizes.