Silverstone race track have denied reports a new three-year deal to host the British Grand Prix has been agreed.Silverstone has hosted Formula One races since 1987, and the historic track has been at the forefront of the calendar for many years as a “showpiece” race in the eyes of many.However, 2019 could be the final year in which the British Grand Prix is hosted by Silverstone as the current contract runs out this year.The Silverstone owners, the BRDC and F1 owners Liberty Media have engaged in lengthy talks though, to keep the prestigious race on the calendar for the next three years and it was reported earlier on Tuesday by Motorsport Week that a deal had been struck.These reports were quashed by Silverstone this morning, though.

• Mercedes to use 'red cards' of Hamilton and Bottas
• Wolff argues against Vettel's 'boring' claim
• Five things we learned from the Azerbaijan Grand Prix

A statement on the official Silverstone Twitter account read: “Following this statement, at this time Silverstone have not agreed a contract regarding the future of the British Grand Prix,”

“We are able to confirm that talks are still progressing.”

Despite the announcement, it does seem that Silverstone will host the British Grand Prix in the foreseeable future.

If it is set to be Silverstone’s final race in June 2019 then British fans will be expecting a British winner in the track’s conclusion.

Mercedes have dominated the opening to the 2019 season with four consecutive one-two finishes and Valtteri Bottas leading the championship as it stands. Hamilton is the joint most successful driver in British Grand Prix history with five victories at the circuit.

Formula One bosses are also still believed to be looking into the possibility of hosting a street race in the London Docklands in what would be for sure one of the sport’s most glamourous weekends rivalling the Monaco Grand Prix.