The British Racing Drivers Club (BRDC) is expected to make a call on the future of the British Grand Prix at Silverstone by mid-July.
The race is in danger of disappearing from the F1 schedule after circuit owners the BRDC revealed it is contemplating the activation of a break clause in its contract to host the event.
Despite strong crowds in recent years the BRDC, which holds an agreement to host the event until 2026, says the race at Silverstone is no longer economically viable.
Some media reports have suggested that notice has already been given to activate the break clause which would allow the circuit to drop the race after 2019.
However, the BRDC has refuted reports it has activated the clause releasing a statement claiming that it is continuing to explore avenues to safeguard the race's future.
“Our objective is to preserve the British Grand Prix at Silverstone for many years to come but, of course, we can only do this if it makes economic sense,” said BRDC chairman John Grant.
“As I have said before, we will be considering over the next six months if we should give notice of our intention to exercise the break clause in our Grand Prix contract at the end of 2019.
“No decision has been made, or will be made, until mid-July.
“In the meantime, we will be using this period to explore with all interested parties, hopefully in private, various ways in which we might work out a more sustainable proposition.”