News broke last week that an asteroid could potentially collide with Earth in the next eight years. But what do you need to know about the space rock that astronomers say is capable of leveling a mid-sized city?

Over the next several weeks, astronomers will be looking closely at an asteroid called 2024 YR4 that could be as big as a football field as they try to determine how likely it is to strike Earth in 2032.

Look at it this way — there's around a 98 per cent chance an asteroid up to the size of a football field won't hit the Earth in eight years. Still, there's up to a two per cent chance it will, according to NASA and the European Space Agency (ESA).