The British Formula 1 Grand Prix is to remain at Silverstone for the another five-years.
A new deal has been signed to stage the race at the venue until 2024.
There had been doubts about whether it would continue to be held there, with the circuit's owners previously saying it hadn't been financially viable for them.
A new deal through to 2024 was signed in London yesterday and Formula 1 chairman Chase Carey says Silverstone remains "an integral part" of the future of the sport.
"We have always said that, if it is to have a long-term future, our sport must preserve its historic venues and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950."
— F1 Media (@F1Media) July 10, 2019
“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,” said John Grant, Chairman of the BRDC.
“2020 will be the 70th anniversary of the first round of the World Championship which took place at Silverstone on 13th May 1950 and will make next year’s event all the more special. This is great news for the BRDC, Silverstone and Formula 1 - and for millions of British motor racing fans.”
“The British Grand Prix at Silverstone is rightly recognised as one of the highlights of both the F1 championship and the annual British sporting calendar," said Stuart Pringle, Managing Director of Silverstone Circuits Limited.
“This is thanks to our track being one of the greatest drivers’ circuits in the world but also the enormous passion for motor racing that exists in the loyal and knowledgeable fans that we have in this country. The prospect of not hosting a Grand Prix at Silverstone would have been devastating for everyone in the sport and I am delighted that we are here today, on the eve of what is sure to be a fantastic event, making this positive announcement about the future."