Formula One supremo Bernie Ecclestone has threatened to switch the British GP from Silverstone to Donington Park after 2009.
"We are discussing the possibility of reaching an agreement with Donington to host the British Grand Prix," Ecclestone told reporters.
"We are trying to save the British GP and we want it to be staged at a venue which befits an event of its stature. I've been in negotiations for a long time and whether or not we're going to do a deal with Donington or Silverstone, I don't know."
Silverstone, which hosted the first race in 1950, is owned by the British Racing Drivers' Club who are planning to redevelop the paddock complex to bring the circuit in line with other more modern facilities.