Having won the first round of their battle with F1 supremo Bernie Ecclestone, the three banks that own 75% of F1, insist that they are not attempting to oust the man that has turned the sport from a semi-professional gentleman's club into a multi-billion pound industry.

"We would be badly advised to exclude a key figure like Ecclestone," Gerhard Gribkowsky, of Bayerische Landesbank, which owns 75% of F1, told Der Spiegel. "In the past three decades he has developed close connections to the industry, the sponsors and other parties and we must consider his life's work.

"However there is some limit," he added. "We will not accept any longer a role in which we carry the risks, and we have demonstrated that we are ready to fight for our position."

Mr Gribkowsky's comments come a day after Ferrari president Luca di Montezemolo sent out his own clear warning to Ecclestone on behalf of the manufacturers who are threatening to start their own series - Grand Prix World Championship - in 2008.

Mr Gribkowsky appeared keen not to push Ecclestone too hard, citing that the Englishman is hugely beneficial to the sport with regards some of the deals he has pulled off in recent years. He also believes that in time the banks may be able to sell on their share of F1.

"The moves into China and Bahrain were without doubt right," he said. "It would be desirable to also go to Russia and India. With only two races in North America we are under-represented in comparison with the market.

"Our aim is to guarantee the sport's long-term stability. At some point the time may come when we say, 'okay, we are leaving again.'"

Asked for a timeframe in which he envisages the banks 'leaving' F1, Gribkowsky said: "From today's point of view, in three to five years. Not earlier."

Ecclestone has offered to buy back the banks' share of F1 but they have made it clear that they are not willing to sell to him.

On the other hand, if the issue with the manufacturers is not resolved and teams such as Ferrari leave F1, the banks will surely be left with egg all over their faces, and 75% of something that is virtually worthless.