Silverstone is on the cusp of securing a new deal to keep the British GP on the calendar.
It is believed Formula 1 is poised to unveil its provisional calendar for 2024 - currently the last installation on the British GP contract.
But F1 CEO Stefano Domenicali says a new deal is now looming, as he also insisted that the historic race at Silverstone must "always" remain part of the sport.
"Silverstone is a very important race," he said. "Seven teams out of 10 are in the UK.
"The British tradition of motorsport is phenomenal and it has a special place in our calendar and it will always have it. We have a very strong relationship and we are looking towards an even longer term and to announce shortly, because it is normal for Formula 1 to be there.
"Silverstone is lucky because it is the only place that we cannot lose because of the British teams and the traditions," added Domenicali.
"Removing Silverstone is not an option."
The Italian also played down speculation that occasional rumours about a potential street race in London could endanger the traditional British GP site.
"Of course London is an incredible city but incredible cities also have incredible challenges to manage," said Domenicali.
"In terms of an iconic view it would be amazing but realistically it would be very difficult. The complexity would be too big today for the dimension of F1 to consider such a project."
