Silverstone deal rumoured to be close

It seems that a new deal for the British Grand Prix to remain at Silverstone is getting closer, as reports are suggesting that F1 and the circuit are nearing a deal.

Silverstone has hosted the third most Grands Prix of any track, and was the home of the first race, back in 1950.

A calendar without a British Grand Prix is unthinkable, so many F1 fans will be happy at this news.

The chairman of Motorsport UK, David Richards told Sportsmail on Sunday: "I'm very positive there will be a successful conclusion before the Grand Prix.

"The fundamentals, the financial side, have been agreed. It is just the final details that need to be signed off, and I am confident they will be."

One suggestion to replace the race at Silverstone was to hold the British GP on a street circuit in London, but Richards says this is something he wasn't able to get behind.

He added: "I couldn't support a race in London or the suburbs over Silverstone, when it is one of the greatest race tracks in the world."