Flavio Briatore is battling to stay involved at QPR.
The Sun says the flamboyant Italian was sensationally axed by Renault yesterday for his part in the Crashgate scandal.
Briatore, who took over QPR with F1 supremo Bernie Ecclestone in 2007, could now be booted out of F1 altogether if the sport's governing body decide he is no longer a "fit and proper person".
And Football League rules state any shareholder or director must be removed if they are banned by a recognised sport's governing body.
An insider said: "F1 is included on the list of recognised organisations, so the situation is potentially embarrassing for QPR."