Chase Carey has admitted a cloud still hangs over the future of the British grand prix.
Last year, Silverstone's owner, the British Racing Drivers' Club, exercised a break clause in its contract in the hope of negotiating a better deal for 2020.
And F1 chief executive Carey confirms that a new deal is yet to be agreed.
"We have said that with an ongoing negotiation, it's best not to do that in public. I think that's a healthier thing to do," he said.
"We value the Silverstone race but we've got to get to a place that works for us. And those discussions are ongoing," Carey added.
F1 owner Liberty Media has said it wants to safeguard the traditional venues like Silverstone whilst pushing into new frontiers including Vietnam and Miami.
But Carey suggests that Silverstone is in danger.
"There are always other options. We want to make sure we're developing an array of options," he said.
"We're in a fortunate place where we have more places that want to have races than can have them, and that's a good place to be in," Carey added.
He said he will continue to try to make "the best decisions for fans and for racing and for us as a business".
Silverstone was on the first modern F1 world championship calendar in 1950, and has hosted the British grand prix 51 times subsequently.