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.