With troubled title sponsor CWM absent from the LCR machines' livery at the British Grand Prix, Cecchinello is currently on the lookout to secure backing to continue as a two-rider team.
Speaking on Saturday morning at Silverstone, before an early race incident saw Miller crash out and collect Crutchlow, Cecchinello admitted it would be difficult to secure the necessary funding to continue with both riders.
He also added that a final decision on the eventual size of his squad would not be made until around the Misano MotoGP weekend in mid-September.
"Unfortunately at this moment we have to be realistic," said the Italian. "We are still working very hard. The chances are not too high at the moment but we are still working before we completely give up the project of a two-rider team, which I love, which I wor k for years to do. We would like to wait maybe two or three weeks and then make the final decision."
Miller is in the first of a three-year deal with HRC. Should he not be in LCR colours in 2016, there is a possibility he could be placed in Aspar's Honda squad with the same crew around him.
On Sunday after the main race, Miller said that he expects "to be on a Honda [in 2016] with Cristian [Gabbarini – his current crew chief] and those guys but where it'll be I don't know."
Before the British Grand Prix the team announced that Crutchlow would stay with LCR for an added two years with Cecchinello having the option to renew for 2017.
Asked to provide information on the equipment that will be available to Crutchlow in 2016, Cecchinello explained the level of support could be dependent on results. Thus he is hopeful 29-year old Crutchlow can rejoin the fight for the top three or four positions before the close of the year.
"We are still waiting on HRC providing us with the latest information about the package that will be available for us," he explained. "Honestly speaking, everything will depend very much on the results.
"HRC is always keen to support when there are performances but when the performances are not there they are less keen to give you the latest, latest, latest updates. Let's say we need to think positive. We need to continue to work harder on our weakest points. There are no other ways or solutions so we will continue to do that.
"For sure there are always small conditions that they [the factory team] try, some small improvements in parts but in the end every time HRC has a [non-Repsol] rider that can stay in the top group every time the new parts arrive free of charge! I really hope to be able to slowly rejoin the top four/five group so we will get more effort from Honda. Even more effort than now."
