Formula 1 managing director Ross Brawn says it is "frustrating" that Silverstone and the sport are currently unable to find a solution for a new contract.
Silverstone hosts its last race on its current contract this year, after it activated a break clause back in 2017. Costs of running the event have run too high for organisers, who are working on remaining on the calendar following the 2019 season.
Brawn says that F1's commercial rights holders Liberty Media and Silverstone's owners, the British Racing Drivers' Club, have different opinions on what is feasible.
"We want to find a solution with Silverstone," Brawn said. "But we are differing in our views. We're not far apart. It's frustrating that we can't find a solution."
However, Brawn is confident over the future of the British Grand Prix, whether it be held at Silverstone or another venue. Liberty Media has often hinted at the possibility of bringing a race to London in the future.
"I don't think it will be the final British Grand Prix," Brawn said. "Whether that's at Silverstone or not is another matter.
"Racing in the UK is important to us and obviously Silverstone has been the home of the British Grand Prix for the last few years but most of us here can remember it being held at Brands Hatch and it didn't seem that strange that we had a race at Brands Hatch one year and Silverstone the next.
"We are determined to make sure we keep a British Grand Prix, and hopefully at Silverstone, but there's no certainty."
Speaking about the possibility of bringing a race to London, Brawn said that having an event in the heart of the city wouldn't work due to the disruptions it would cause, but stated that having a Grand Prix in a suburb is an option.
"London would be a different race than the British GP. It is a city race. There is a place for both. I don't think it's feasible to have a London race in the middle of London, unfortunately. The chaos and impact it would have would be too severe.
"But on the periphery of London there are a number of areas that could work. I don't see it as it would necessarily replace the British GP - it would be the London GP."