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Lawrence Tomlinson is reportedly considering retracting his bid for Silverstone.
The Ginetta owner is said to have extended the deadline for his bid a number of times but a lack of response from the circuit's current owners, the British Racing Drivers Club, is forcing him to change his mind.
"I have already extended the deadline on my offer a number of times but it’s getting to the point where it cannot be prolonged any longer," the Yorkshireman told Forbes.
"It’s getting to the point where it cannot be prolonged any longer and I’ve had to put a final deadline for entering exclusive discussions.
"To have any chance of saving the circuit, a deal realistically needs to be concluded by the end of the year so the due diligence would need to kick off immediately.
"This means that if I don’t hear back from the BRDC within days to confirm we are entering exclusivity, my offer will be withdrawn."
The BRDC are understood to be not keen on the idea of working with Tomlinson, and have entertained offers from Jaguar Land Rover and MotorSport Vision.
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