F1 managing director Ross Brawn has said that Liberty Media is working to secure the future of the British GP.

The Silverstone circuit owner, the BRDC, triggered a break clause in their contract. So, unless another deal can be agreed upon by the two parties, 2019 will be the last race.

“Silverstone is a special event on the calendar and we all want to make sure it stays there for a long time.

We are working hard with the BRDC to find a satisfactory agreement for both sides,” he said.

The BRDC terminated its current deal hoping to renegotiate a more financially favourable deal.

“We’re working on it methodically, and it’s always best to do so out of sight and without sensational headlines.

We want to stay at Silverstone for the long term, because it’s one of the birthplaces of motor sport. When there is something to announce, we will be the first to do so,” added Brawn.

The huge turnout at Sunday’s British GP proved that F1 cannot turn its back on Silverstone.

Despite attracting big crowds, the future of the race is in jeopardy. Brawn has admitted that the tactics of the British Racing and Drivers’ Club (BRDC) has complicated matters.

“I am sure we are going to find a solution with Silverstone because we can’t leave this behind,” Brawn said. “The frustration is the negotiations are taking place in public.’

“Every other circuit we deal with we do it quietly and get on with it. For some reason Silverstone choose to make everything public which causes more difficulty, but we will find a solution. I love this place, we all have so many great memories. It’s a very important race for Formula One.”

Silverstone played host to the first world championship race back in 1950. The F1 bosses hoped to move next year’s race up the calendar to April. The idea was for it to host the 1,000th race, but that honour will instead go to the Chinese Grand Prix.