Bernie Ecclestone insists he is taking a financial hit by agreeing a new deal for the British grand prix.
The website of the British newspaper the Daily Telegraph also quoted the 79-year-old F1 chief executive as saying Silverstone will "make a fortune" from the 17-year agreement.
Asked if he could make more by offering the race to another host nation, Ecclestone answered: "Definitely, a lot more, an awful lot more.
"There are other places desperate for races but there was no more money in Europe."
Earlier this week, the British billionaire expressed frustration with the protracted talks over Silverstone's new deal.
He now adds: "I got fed up with the whingeing and moaning. It has taken too long, but now Silverstone can get on with it for years to come and make a fortune."
Ecclestone also played down reports he made key concessions, amounting to tens of millions, in order to safeguard the calendar's historic British event.
"I didn't have any special sentiment because it was Britain, but if people think I helped then that's nice."
