Silverstone has already begun serious discussions with Bernie Ecclestone about a new British Grand Prix deal, AUTOSPORT has learned, but a contract is still far from guaranteed.
Donington Park has until midday on Monday to sort its financing out before it is in breach of its contract to host the race, and sources have revealed that talks have already opened between Ecclestone and Silverstone about a fall back plan.
But although it is understood that those discussions have moved up a gear in recent weeks, once it became clear that Donington Park was in trouble, there remains no certainty that a deal will be put in place.
Sources suggest that the contract currently being proposed by Ecclestone's camp is very similar to the one that Silverstone rejected 18 months ago as being commercially unviable - and which led to the deal with Donington Park happening in the first place.
Although Silverstone is keen for a long-term deal to secure the future of the British Grand Prix, the track has made it clear several times that it will only keep the race if it makes financial sense.
A source close to the discussions said: "Silverstone is keen and ready to progress, but as we stand at the moment, no viable contract has yet been offered."