A deal to keep the British Grand Prix at Silverstone in 2020 could be signed next month, Germany's Auto Motor und Sport claims.
The race is one of five that finds itself out of contract after this season, following the decision by Silverstone two years ago to activate a release clause in an initial deal signed with Bernie Ecclestone back in 2009.
And negotiations have been tough with circuit boss Stuart Pringle criticising Liberty Media and pushing for a much more sustainable financial model for promoters.
There have also been worries that the Formula 1 owners could drop historic Grand Prix's like Britain, Italy and Germany to make space for Vietnam and Miami's expected arrival on the calendar next year.
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Speaking last weekend though, F1 motorsport director Ross Brawn tried to assure the future telling Sky Sports: "Despite the pessimism, I'd be surprised if we lose any of the races we have."
And now AMuS, quoted by GPFans.com, has reported a breakthrough in talks with a new contract set to be signed as early as May.
With the saving of the event at Silverstone, the report goes further and says that plans are already being made for a grand celebration next year to mark 70 years of the first F1 race which took place at the British track.
Apparently, the special events would be even bigger than those for next weekend's 1000th Grand Prix in China due to the logistical challenge of being in Shanghai.
