The 48 hour deadline issued by Bernie Ecclestone is likely to pass without a deal for a 2010 British grand prix in place.
It was reported earlier this week that the F1 chief executive was giving Silverstone bosses a "day or two" to sign his contract before the British race is pulled from next year's calendar.
The Times reports that the Northamptonshire track's management was "surprised" by the ultimatum, which is now set to end.
"Their puzzlement is such because they say Silverstone is waiting for Ecclestone to respond to amendments to the contract, not the other way round," the London based newspaper said.
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