The British Racing Drivers Club, which owns Silverstone, has denied a report claiming the circuit will "definitely" drop the British Grand Prix in 2019.
A report in the Sun newspaper quoted an unnamed source claiming the Northamptonshire circuit had already decided to drop the race in two years' time because the event had become unaffordable. While it is true that the BRDC is considering exercising a break clause in its grand prix contract for 2019, it has made clear that it will continue to look for a solution for its funding problems until its deadline in July this year.
In a statement on Friday evening, a BRDC statement labelled the reporting as "speculative and wrong", reiterating that no decision would be made before July.
"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," BRDC chairman John Grant said. "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."
Silverstone's contract to host the British Grand Prix runs until 2026, but the deal features an escalating sanctioning fee that the circuit is struggling to meet. Despite sell-out crowds in recent years, Silverstone has made clear that it requires either a reduction in the fee or new investment to secure the long-term future of the race.