Formula One commerical rights holder Bernie Ecclestone has set Silverstone a deadline of the end of September to secure its position as the home of the British Grand Prix.
Ecclestone said in a statement that he was still trying to find a promoter for the race, for which he owns the rights.
Silverstone is back under the control of the British Racing Drivers' Club (BRDC) and Ecclestone said that no deal has yet been done for them to host the British Grand Prix beyond 2004.
A statement issued by Ecclestone's company stated that they were "prepared to enter into an agreement with either the BRDC or another promoter for the staging of a British round of the FIA Formula One World Championship in the years 2005 and 2006 on commercial terms matching those for the races in Germany.
"This remains our position, although as yet neither the BRDC nor any other person has stepped up to accept this offer.
"Such an agreement would need to be in place no later than 30 September 2004."