Formula 1 CEO Chase Carey says the future of the British Grand Prix beyond 2019 still hinges on the outcome of the current negotiations between Liberty Media and Silverstone.
Following the activation of a contract break clause by the BRDC in 2017, the British track is in the last year of its deal with Formula 1.
Silverstone's owners - the BRDC - are hoping for an extension of its deal with Grand Prix racing but only if they are awarded more favourable financial terms, a concession Liberty Media appears unwilling to make.
Speaking in Azerbaijan last week where Formula 1 extended its deal with Baku until 2023, Carey expressed his optimism that the impasse with Silverstone could be solved for the benefit of both parties.
"Silverstone is a valuable race," Carey told Sky Sports News' Craig Slater.
"We appreciate what Silverstone has meant to fans. We are engaged with them to see where we can get to.
"This sport historically seemed to like to talk in public before they talked in private. We're trying to do the reverse, talk in private and then address the public with what we've done.
"We're going to continue doing with what we think is the right thing, but we are engaged with Silverstone."