The owners of the Silverstone circuit have been locked in negotiations with formula one supremo Bernie Ecclestone since Donington Park's plans to host the British round of the world championship fell through.
Both parties have been unable to agree on the terms of the contract, with the main sticking point being the fee for hosting the event.
Ecclestone claims to have put on the table the same deal the Northamptonshire circuit turned down 18 months ago while insisting it is the best on offer to any venue on the F1 calendar.
However, as a private entity, the BRDC has said it would only take on the British grand prix if it could make a profit and it appears that progress has been made in recent weeks.
At Monday's press conference BRDC president Damon Hill and Silverstone managing director Richard Phillips will announce the outcome of their discussions with Ecclestone.
Silverstone has stated it is unwilling to comment on the situation until the official announcement is made.
Ecclestone claims to have put on the table the same deal the Northamptonshire circuit turned down 18 months ago while insisting it is the best on offer to any venue on the F1 calendar.
However, as a private entity, the BRDC has said it would only take on the British grand prix if it could make a profit and it appears that progress has been made in recent weeks.
At Monday's press conference BRDC president Damon Hill and Silverstone managing director Richard Phillips will announce the outcome of their discussions with Ecclestone.
Silverstone has stated it is unwilling to comment on the situation until the official announcement is made.
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