With 2 other presenters though, the normal course of action would be to run the show without Clarkson with Hammond and May presenting. Or get a replacement.
The One show didn't stop when Jason Manford was given the elbow....
It's possible that the added problem from this comes from Clarkson holding some of the rights to the show, which could mean the show just can't go on without him.
There are some Top Gear live shows in a few weeks that havn't been cancelled. Which could mean the BBC donesn't own the Top Gear brand, so outside the BBC, the show and brand can still exist.
If the Top gear name can be moved over aswell as the presenters, this has to be of great interest to other TV channels.