Formula One bosses expect British Grand Prix organizers to activate a break clause next week, leaving the country in danger of dropping off the calendar from 2019 if a new deal cannot be done.
A source close to the commercial rights holder said Formula One Management had offered to take over the race for five years, absorbing annual losses of between two and three million pounds ($2.5-$3.8 million).
Silverstone's owners, the British Racing Drivers' Club (BRDC), fear the annual rise in hosting fees agreed with previous F1 supremo Bernie Ecclestone exposes them to a "potentially ruinous risk".
Sources on both sides told Reuters that an announcement was likely on Tuesday, the day before a big event involving Formula One cars, teams and drivers in central London's Trafalgar Square.
Wednesday's event in London is aimed at raising the profile of the sport ahead of a race that drew a Sunday crowd of 139,000 last year and is a home grand prix for triple champion Lewis Hamilton.
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