Former British Racing Drivers Club president Derek Warwick believes the UK's status as the global 'home of motorsport' is no guarantee that the British Grand Prix will continue to feature on the Formula 1 calendar in the future.

Ahead of his resignation as BRDC president in October, Warwick oversaw Silverstone's decision to trigger a break clause in its existing F1 contract due to escalating costs and an increasingly bleak financial forecast.

While Silverstone chiefs remain hopeful of striking a revised deal with F1's new management, Liberty Media, the track is currently not set to host the British Grand Prix beyond 2019.

Speaking to the Jersey Evening Post, Warwick stressed that while the UK may be a key hub for global motorsport, acting as the base for 70 per cent of F1 teams and with strong links through racing history, it acted as no guarantee of the race staying on the calendar.

"The grand prix is too expensive, we’re losing money and that’s why we triggered the break clause," Warwick explained.

"Britain is the home of motorsport. Does that mean there will always be a British Formula 1 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."

Liberty Media remains keen to keep a British race on the F1 calendar moving forward, with a possible street race in London being suggested to fall in line with its push to take the series to "destination cities".

London played host to the F1 Live event last July ahead of the British Grand Prix, and city mayor Sadiq Khan confirmed he would be "keen to listen" to any plans the series' bosses may have.

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Shame they ruined the circuit pandering to F1's requirements

It will not matter if there is a British F1 Grand Prix after 2019. There is no free to air coverage after this yr(2018) Channel 4 took over the BBC contract in 2016. They may try to secure another contract but Sky have signed a exclusive F1 deal from 2019 to 2024 with no free to air not even highlights. In 2012 the BBC talked to sky about sharing coverage as they could not afford to show 20 races live. There should be free to air as well even if its highlights only.

The BRDC is a private club with a few billionaires and many, many millionaires. Most years around this time they do the old begging bowl routine claiming the race is at threat because they lose money and complain that UK taxpayers should contribute to alleviate their obvious poverty. The sort of losses they talk about, amount to less than a single top GP driver's annual pay or less than 0.5% of the wealth of a single member. Surely, the whole idea of having these eye-blistering amounts is so they can afford things and do things that the drones can never hope to achieve. Like owning an F1 race track in Northampton or owning a private airliner. Which is fine. They can use their immense riches to do so but please, don't plead poverty. These things are expensive to run and, in the same way as when your luxury private yacht or plane goes wrong, you wouldn't expect the government to help you out.