Formula 1 teams are set for a crunch meeting on Thursday to discuss the impact the coronavirus pandemic will h♉ave on this ꦆseason and 2021.

A phone con❀ference call is set to take place today between all ten teams and F1 chiefs Chase Carey, Ross Brawn and FIA president Jean Todt to discuss the situation regarding the ongoing COVID-19 crisis.

The main discussion point on the a🤪genda is understood to be deciding whether to postpone the upcoming sporting, technical and financial 🅺regulation overhaul currently scheduled to be introduced for 2021 in a bid to reduce financial strain on the teams.

F1 teams were already facing a huge development challenge in balancing car development between the 2020 and 2021 seasons prior to tꦐhe coronavirus outbreak, which has added a further headache amid a delayed st⛎art to the new campaign.

To combat this🥀, the 2020 rules could remain unchanged for next season and the development of key car components frozen for 2021, before the new regu🌼lations come into force the following year.

Ferrari 🐠team principal Mattia Binotto said his side would do whatever is necessary to act in the “ultimate interest” of the championship.

“We will h🐼ave a conference call with all the other teams, F1 and FIA to discuss the situatio♎n and the impact it has not only on this season but also on the next one,” Binotto told Formula 1.

“We must carefully evaluate every aspect and see if it is not really the ca𒁃se to think about possibly postponing the introduction of the new 2021 technical🎃 rules.

"In any case, Ferrari is ready to take responsibility for a choice that mu🐻st be made in the ultimate i⭕nterest of this sport, it is certainly not the time for selfishness and tactics.”

Other matters such as the 2020 calendar are expe🐈cted to be discussed, after the opening four rounds in Australia, Bahrain, China and Vi📖etnam were postponed.