Silverstone's owners, the British Racing Drivers’ Club (BRDC), believe they can agree a deal in time to save the British Grand Prix.
Formula One boss Ecclestone has told the BRDC that agreement must be reached by Thursday.
"We are working on a proposal that Mr Ecclestone's put to us in the last day or two and we are optimistic," the BRDC's Alex Hooton told the BBC.
"The signs are there will be a Silverstone next year and in succeeding years, but we're not there yet."
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