Sir Stirling Moss has said that the British Grand Prix is absolutely vital for F1 and that it was critical a deal was reached to ensure the event remained on the schedule in 2010 and beyond.

Silverstone finally confirmed a new 17-year agreement with F1 boss Bernie Ecclestone this week, after Donginton's bid to stage the event collapsed due a lack of funding.

"We do need a British Grand Prix because nearly all the cars are either built here, or made here," Moss explained in an interview to Eurosport-Yahoo!

"F1 does need a British GP but Bernie Ecclestone is not easy to deal with; I like Bernie, I like his humour, but I'm glad to say I've never had to negotiate with him! That would be a completely different kettle of fish."

Moss meanwhile added that he never thought the British Grand Prix would disappear, although he did fear it might be moved aboard.

"Silverstone is the only place it could be in England, the only place capable of taking it on," he continued. "I wasn't worried about it; everyone else was, but I wasn't. The only trouble is that the British Grand Prix doesn't have to be held in Britain - that's the snag.

"It's a good thing: they (Silverstone) are putting a load of money into it and it will greatly improve the facilities. It's for 17 years, which will also help them get a good return."