Former BRDC president Derek Warwick fears Britain could lose its place on the F1 calendar unless an affordable deal is signed with Liberty Media.
Last year Silverstone triggered a break clause in their contract to host the British Grand Prix meaning 2019 will be the last race.
The British Racing Drivers Club, who own the Northamptonshire track, broke the contract as they felt it was costing too much to host the grand prix.
Despite that, though, they are hoping to negotiate a new deal with Liberty Media.
Should that fail to materialise, Warwick feels Britain could lose its place on the calendar.
“The grand prix is too expensive, we’re losing money and that’s why we triggered the break clause,” he explained to the Jersey Evening Post.
“Britain is the home of motorsport. Does that mean there will always be a British Formula One Grand Prix? Absolutely not.
“Of course we want a British Grand Prix and for it to stay at Silverstone, but we want it to be affordable so that we can make just enough money to reinvest in the circuit.
“We can’t do that under the present deal.”