The race, staged at Silverstone, was threatened with the chop after organisers failed to meet the financial demands of Formula One supremo Bernie Ecclestone.
However, since news broke of the threat to the race, it is thought the British Racing Drivers’ Club has secured the sufficient funds needed to meet Ecclestone’s price-tag.
It is believed after securing a provisional slot on the calendar BRDC chiefs must now finalise a deal with Ecclestone which will secure the long-term future of the race.
Were Silverstone to be left off the calendar it would not only be a major financial blow given the influx of visitors the race provides, but it would be an embarrassing blow to the London 2012 bid leaders, keen to not lose a major global event while trying to persuade the IOC it is the right nation to host the Olympic Games.
The final Formula One calendar is released in December.
