Silverstone rescue talks scheduled for Monday

Last year, organisers of the Silverstone race, triggered a break clause in the contract due to cost issues.

Talks are to go ahead on Monday in an attempt to try and save the British Grand Prix.

There have been reports that last year, organisers involved with the race, broke a release clause in the contract due to financial issues.

Liberty Media commercial boss Sean Bratches says there is still hope that a new agreement can be reached in order to keep the famous circuit at the heart of Formula One.

"Silverstone is part of the foundation of this sport," Bratches said.

"We are a commercial business and we are going to do a deal that makes sense for us and hopefully there is an opportunity there.

"We just renewed Spa (Francorchamps) on terms that work for both parties, and my suspicion is that we can do the same for Silverstone. That's our intent anyway."

The last F1 race at Silverstone took place in July last year.

Lewis Hamilton was the winner that day, with Valtteri Bottas competing a Mercedes one-two and Kimi Raikkonen concluding the podium in third.

The British Grand Prix is scheduled to take place on the 6th-8th July this year.