Speaking at Autosport International, Derek Warwick says the Silverstone has initiated talks with the UK government regarding the future of the British Grand Prix.
The BRDC, which owns Silverstone and is contracted to promote the showcase Formula 1 event, alerted its members last week to the fact that it was considering breaking off from its current contract with Bernie Ecclestone's FOM given the financial burden generated by the British GP.
Warwick did his best to calm fears of the race being dropped from the F1 calendar by stating that Silverstone had entered talks with the government as well as with F1's new owner Liberty Media.
"We sent a Christmas note to our members giving them an update of Silverstone," explained Warwick.
"A lot of that came out as [there was] the possibility of activating the break clause before the grand prix this year, for 2019.
"Don't worry, we 100% have it for next three years, up until 2019.
"I have just got a feeling that, 'we can't do without the British Grand Prix, we can't do without Silverstone', so some compromise will be made, either with Bernie or the new people that are now taking over, which is Liberty.
Warwick was hopeful that all involved parties could meet each other at least halfway and secure the future of a race which has been a fixture on the F1 world championship calendar since its creation in 1950.
"We have had meetings with Liberty and [F1 chairman] Chase Carey, he understands our dilemma. We understand he still has to make money because that's what these guys are doing.
"There is light at the end of the tunnel, we will have grands prix past 2019. We're talking to government to see if there is any help there.
"Even Bernie is calling us and saying 'let's set up a meeting and we'll talk about it'."