Formula 1 is “developing an array of options” in case Silverstone fails to reach a new deal to remain on the calendar beyond 2019.

Last year the British Grand Prix venue triggered a break clause in its contract and is set to exit the F1 calendar following next year’s race, unless a new deal is negotiated. Silverstone wants to remain on the calendar but is keen for its current hosting fee to be reduced.

Following the confirmation of a 2020 Vietnam Grand Prix earlier this week, F1 commercial chief Sean Bratches warned the British Grand Prix could move away from Silverstone.

Singapore V4, F1,

F1 boss Chase Carey said a number of alternative options would be pursued to take Silverstone’s place should it drop off the calendar.

“On ongoing negotiations and discussions, we’ve said in the past this is a sport that seems to like to negotiate in public,” Carey said.

“And I don’t think that’s the healthiest way to deal with things as partners. I don’t think we want to provide a lot of ‘inside the tent’ commentary on active discussions.

“We value the Silverstone race but we’ve got to get to a place that works for us. And those discussions are ongoing.

“There’s always other options, and it’s one of those things we make sure is we’re continuing to develop an array of options.

“We’re in a fortunate place right now that we have more places that want to have races than we can race, and that’s a good place to be.

“We’ll continue to develop those options, and make sure we are able to make the best decisions both for fans and for racing and for us as a business. All those things matter, and we’re actively engaged.”

Miami update

Plans to introduce a Miami Grand Prix on the 2019 calendar were postponed earlier this year and Carey stressed the situation remains an “ongoing” and “time-consuming process”.

“Miami is an ongoing process. There are a lot of parties involved, which is not uncommon when you get a street race," Carey explained.

“You've got macro parties and micro parties that are interested. It's a time-consuming process to navigate through all of those. I guess I'd say it's active.

“I think everybody in Miami thought it was a great experience, there was great energy, great excitement, 80,000 people, and almost all the comments we got were positive and excited about it,” he added. “It sort of helped to reinforce what we bring.”

Carey suggested F1 has further options for another race in America.

"Certainly the US remains a priority. We're engaged in discussions elsewhere in the US, so it's not just Miami,” he said.

“But we think Miami could be a great signature event for us worldwide, not just in the US."