Ecclestone has only included Silverstone on the draft calendar for the 2005 World Championship subject to the BRDC
meeting his terms.
Interpublic Group were also leasing Silverstone from the BRDC
but earlier this week they paid a further pounds 27m to the Drivers' Club to end that contract due to run until 2007.
But the BRDC
and F1 owners Liberty Media put the finishing touches on a new five-year deal in London on Tuesday.
John Grant, chairman of the BRDC
, said: "Silverstone is one of the most iconic grands prix on the F1 calendar and with such a rich heritage it would have been disastrous for the sport and fans had we not managed to find a way forward."
Tickets for the British GT and BRDC
British F3 Championship at Donington Park on 22-23 June 22-23 are available in advance priced from PS20 for adults, with free entry for under-13s and discounted rates for teenagers aged 13-15.
"This decision has been taken because it is not financially viable for us to deliver the British Grand Prix under the terms of our current contract," BRDC
chairman John Grant said.
It would not only risk the future of Silverstone and BRDC
, but also the British motorsport community that depends on us.
It was believed Jaguar Land Rover's preferred option was to acquire a 249-year lease on the circuit, which hosts the British Grand Prix, while the BRDC
would have still owned the site.
A statement from the BRDC
confirmed members had backed negotiations to conclude a deal which would "preserve Silverstone as the UK's premier racing circuit".
plays an important role as the guardians of motorsport, which I hold in the highest esteem.
"I am delighted to have been asked to become a BRDC
SuperStar," said Cardiff 's 20-year-old Parry.