Following two weeks of uncertainty and contrary to previous announcements, Silverstone has been included on the provisional list of Formula One (F1) venues for 2005.

Bernie Ecclestone, holder of commercial rights to the F1 championship, had threatened to axe Silverstone – and consequently the British Grand Prix – from the 19-strong list after the British Racing Drivers’ Club (BRDC), which owns the Northamptonshire circuit, had refused to pay the full £9m demanded by him to host an F1 race.

The BRDC responded cautiously to the announcement and said discussions were still under way to ensure an F1 race takes place at Silverstone in 2005.

A spokesperson for the BRDC said: “We welcome the latest announcement by the Fédération Internationale de l’Automobile (FIA) to include Silverstone on the list and consider it as progress.

“However, we are still in discussions and any resulting contract will need to be finalised by the end of the month so that the organisation of the 2005 British Grand Prix is not commercially compromised.”