Hill predicts late save for Silverstone

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Silverstone's contract to host the race expires at the end of next year's event and, despite plans for a new £30million pit and paddock complex having been recently approved by the local council, Ecclestone will still need convincing that the circuit is up to scratch for Formula One.

Hill, president of the British Racing Drivers' club who currently own Silverstone, said: "We're definitely making progress. We've the planning consent for our pit and paddock complex, but it is one step at a time."

He added: "Typically, negotiations will be ongoing and I expect won't come to a conclusion until the final hour, whenever that is.

"But if we're going to fulfil building requirements then ideally we have to get going on it before the end of this year.

"So at this moment it's situation normal."

Ecclestone recently stated he was in talks with Donington Park as a potential alternative, although that could be viewed as a tactic to get Silverstone to dig deeper.

"I would never discount any other option," remarked the 1996 F1 world champion. "It's the nature of this free market that there's always another option to go to, and we have to compete.

"But a tremendous amount of work has gone into getting Silverstone teed up to become a leading centre for world motor sport.

"I think it's ideally placed to cater for Formula One, and for all motor sport."