Formula 1 teams can survive and thrive with half of their current budgets, according to Ross Brawn.

Auto Motor und Sport reports that the F1 sporting boss is planning to present the teams with Liberty Media's plans for the future within the first half of this season.

"We could have a fascinating sport with highly complex cars for less than half the money spent today at the top. And no-one would notice," he said.

Some argue that it could mean F1 teams run less 'perfect' operations, but Brawn thinks this would actually be a good thing.

"Perfection and predictability kill the entertainment and the sport suffers," he said.

"The fact that hardly any cars retire during a race is a great technical feat, but unfortunately it does not tell any stories.

"What a heartbreaking scene it used to be when a car stopped in the final laps."

Liberty is believed to be hoping to introduce a budget cap.

Brawn said: "We have a number in mind, but I cannot tell you. It would be unfair because we're still in discussions with the teams."

Those discussions so far have caused Ferrari to issue a direct F1 quit threat, and ousted F1 supremo Bernie Ecclestone said that Ferrari president Sergio Marchionne should be taken seriously.

"Sergio does not do things unless he is serious," he said.

The next explosive step in the story could therefore be set to happen, with Brawn planning to reveal Liberty's post-2020 plans in "the first half of this year".

"We want the races to be more entertaining and Formula 1 to be economically viable for all 10 to 12 healthy teams.

"And we need cars with which the driver can show his talent. The majority of the fans are fascinated above all else by the drivers," he said.

The 2018 season gets underway later this month with the Australian Grand Prix.