The future of the British Grand Prix will be set in motion on Monday, as Formula 1's chiefs meet with Silverstone's owners to discuss the terms and conditions to keep the event on the calendar.
Last year, Silverstone triggered a break clause in its contract with F1 that calls for the formal end of the current deal after the 2019 race.
Formula 1's commercial manager Sean Bratches is hopeful however of striking a new agreement, believing the British Grand Prix is one of several historical races events that must remain in the world championship.
"Silverstone is part of the foundation of this sport," said Bratches.
"We are a commercial business and we are going to do a deal that makes sense for us and hopefully there's an opportunity there.
"We just renewed Spa on terms that work for both parties, and my suspicion is that we can do the same for Silverstone. That's our intent anyway," added the American executive.
Spa will remain the venue of choice for the Belgian Grand Prix until the end of 2021.