The Briton said there would be no penalties for Donington's failure and Silverstone had already been offered a similar 17-year deal for a traditional race whose place on the calendar now looks uncertain.

"They've got to tidy the whole place up a bit, but I'm optimistic they will accept it (the deal)," he added.

Next year's race is due to be held on July 11, the same day as the World Cup soccer final in South Africa.

Silverstone, a former World War Two airfield, hosted the first championship race in 1950 and the British Racing Drivers' Club is keen to continue for the long term.

However, they have made clear they will only sign an agreement if it makes financial sense while Ecclestone has said he will not give them special treatment.

"I want a British Grand Prix, of course, but we are not going to do special rates for Britain," he told the Daily Express last week.

"If they (Silverstone) can't make it work then don't do it. If that happens, there won't be a British GP."

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.