Over 800,000 people have now signed a petition to reinstate the presenter, fuelling speculation that Top Gear would be scrapped if Clarkson was sacked.
But insiders have said the BBC - which holds the rights to the format - is quite prepared to continue making the programme even if it means getting a new presenter or presenters.
One source said other popular shows, such as Have I Got News For You? Had survived a change of presenter and there was no reason Top Gear could not do the same.
Other shows, including Strictly Come Dancing, have continued to thrive after star presenters left, and when a string of high profile presenters including Adrian Chiles, Christine Bleakley and Susanna Reid defected from the BBC they failed to replicate their previous success.
The source also pointed out that the BBC remained the best place for an irreverent and fearless motoring consumer programme, because the Corporation was not beholden to advertisers.
The source told the Telegraph: "If the guys wanted to go to another channel to do a different show, would it be better than Top Gear on the BBC with all its commercial freedom?"
"I think it would be bonkers to suggest we would automatically have to shut up shop. People seem to think that no Jeremy Clarkson means no Top Gear, but programmes can be more robust than people might think."
Danny Cohen, the director of television, has also made it clear that no one star is considered bigger than the corporation and Clarkson was recently warned that he was in the "last chance saloon", following a string of controversies.
But many fans of the show, which is sold around the world guaranteeing millions in revenue for the Corporation's commercial arm, BBC Worldwide, believe it will struggle to replicate its current success without Clarkson at the helm.
And Despite his frequent run-ins with broadcasting watchdogs and even international embassies, the Corporation have acknowledged Clarkson's unique broadcasting appeal.
He and his co-presenters, James May and Richard Hammond, are all currently on freelance contracts, which are up for renewal later this month.
Clarkson is expected to meet with the BBC next week for a formal disciplinary hearing, headed by Ken MacQuarrie, the head of BBC Scotland, at which evidence will be heard from all sides involved.
It is understood he reported the incident himself after meeting with Top Gear crew to apologise for the outburst.
A family who witnessed the row at the Simonstone Hall Hotel near Hawes in North Yorkshire said it had occurred at around 9.30pm last Wednesday in the bar.
Bob Ward, 60, from Leeds, told Sky News the star refused to have a selfie taken with him, saying: "No, not with the day I have had."
His wife Sue claimed Clarkson then said it was "ridiculous there was nothing to eat" and she said he thought his colleague had not done his job properly.
"Obviously there were lots of expletives in between all this," she added.
She said Clarkson told his colleague "he would see to it that he would be losing his job".
Clarkson has denied striking his colleague but witnesses claim there was some pushing and shoving.
Leaving his London home he expressed his gratitude to those who had lobbied for him to return to Top Gear saying: "I am very grateful to everybody."
Strop Gear: A history of Clarkson controversies
2003: Jeremy Clarkson drives a pick-up into a horse chestnut tree in a car park in Somerset, to test the strength of a Toyota. The BBC apologised to the parish council.
2008: Clarkson makes a joke during an episode about lorry drivers murdering prostitutes, which attracts more than 1000 complaints to the BBC.
2010: Jokes made during the show about Mexicans, which included them being branded "lazy", "feckless" and "flatulent", spark controversy and prompt an apology from the BBC to the Mexican ambassador.
2011: During a 90-minute India special a car fitted with a toilet in the boot is described by Clarkson as "perfect for India because everyone who comes here gets the trots".
2012: Clarkson is found to have breached BBC guidelines by comparing a Japanese car to people with growths on their faces.
2014: Clarkson was embroiled in controversy when it was claimed he used the N-word while reciting the nursery rhyme Eeny, Meeny, Miny, Moe during filming.
2014: Top Gear is ruled to have breached broadcasting rules after Clarkson used the word "slope" to describe an Asian man.
2014: Top Gear crew is forced to flee Argentina after trouble erupted when it emerged they were using a Porsche with the registration number H982 FKL, which some suggested could refer to the Falklands conflict of 1982.
