Bernie Ecclestone has announced a deadline for Silverstone to either sign a contract or lose the British grand prix.
The F1 chief executive, whose desired deal with Donington collapsed last week, indicated to the Daily Express newspaper that negotiations with the Northamptonshire circuit are now over.
"Maybe they have lost their pen but if they don't find it in the next day or two then that is it," he said.
"I will pull the race off the calendar and there will be no British grand prix to argue about," the 79-year-old billionaire added.
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