The heartland of Formula One will lose its home race from 2020 unless Silverstone is handed a cheaper deal to stage the British Grand Prix.
Despite seven of the 10 teams being based in Britain and Silverstone attracting the biggest crowds in the sport, the circuit has told F1 owners Liberty Media that escalating race fees have made the historic race unsustainable.
Silverstone on Tuesday activated a break clause in the contract that was signed in 2009 when the British GP was last under threat, providing two years' notice of its intention to walk away from F1.
"We don't have infinite resources to keep on subsidising the Grand Prix and it's wrong to do that," British Racing Drivers' Club (BRDC) chairman John Grant told The Associated Press as the circuit was being prepared for Sunday's race.
"We only have one opportunity to bring it to a stop, legally. We have this one opportunity to exercise the break clause and we have to do it today."
The BRDC reported losses in 2015 of Stg2.8 million pounds (now about $A4.7 million) and Stg4.8 million ($A8.1 million) in 2016.
Race fees rise five per cent annually and will hit Stg16.2 million ($A27.3 million) for this weekend's race and have leapt to Stg25 million ($A42.1 million) by 2026.
Liberty said they are focused on preserving the Silverstone race and promised to "carry on negotiating with the promoter in good faith and in private to reach a fair and equitable solution."
Red Bull team principal Christian Horner was less diplomatic.
"They have now realised that they can't afford it despite having a full house every year," Horner said.
"They either should not have signed it in the first place or they got their maths wrong. Silverstone gets favourable rates anyway."
Many newer circuits benefit from government funding, including in the Azerbaijani capital Baku, Qatar and Abu Dhabi.
Silverstone would be keen on similar financial support.
Grant said the British GP was the "halo" of a British motorsport industry he said is worth Stg10.5 billion ($A17.7 billion) a year, employs 45,000 people and exports more than 75 percent of its output.
"We think there is a great national interest in preserving (the race)," Grant said.
"It will continue to create wealth for the UK, so there are arguments we could demand support but the government has to come to its own conclusion on that."
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