Silverstone proposes new F1 deal for 2020

Silverstone has stepped up its bid to remain on the Formula 1 calendar.

Last year, amid growing losses, the circuit-owning British Racing Drivers' Club (BRDC) triggered a break clause in its contract.

Restructured deal

As it stands, the last British grand prix will take place at historic Silverstone in 2019.

READ: No British GP 'at any price' - Silverstone director Stuart Pringle

But F1 business journalist Christian Sylt reveals that the BRDC has launched a proposal for a restructured deal with Liberty Media.

"The ticket sales would go to Liberty but we could provide all the management, all the organisation," a senior member of the BRDC told the Mail on Sunday.

"In return, Liberty would pay us a reasonable amount to cover our overheads for the use of the track and job done.

"All logic says they are going to come to an agreement, but there is no great urgency for it as it's a year before they set the (2020) calendar," the source added.