The Motor Sports Association (MSA) on Thursday dismissed the claim as "a load of rubbish".

The report in The Mirror said British motor racing chiefs had three months to save the race and that Formula One authorities were demanding radical changes.

Rob Bain, the chief executive officer of Octagon Motorsports Limited, admitted, however, that there had been some discussions with FIA, the sport's governing body.

Octagon, in conjunction with the British Racing Drivers' Club (BRDC), agreed terms earlier this year to run the grand prix at Silverstone for the next 15 years.

"We've had some correspondence from the MSA, on request from the FIA, asking us to put in writing what traffic plans we put in place this year following a couple of complaints," he said.

"We have responded to the MSA in terms of what we did achieve, but that is all we have had, nothing about FIA calendars or anything else."

"I would be surprised if they (the FIA) did drop the race."

Octagon, the BRDC and Formula One supremo Bernie Ecclestone have each invested �15m in a project to help transform Silverstone.

The plans arose in the wake of last year's GP when heavy rain turned parking areas into quagmires after the event was switched from its traditional July date to April.

Improvements

The race returned to July in 2001 and Octagon and the BRDC have made parking and traffic flow improvements.

"Obviously the July date helped enormously, and I think things went very well," Bain said.

"If we can continue to make improvements each year then the fans will be happy."

MSA spokesman Colin Wilson said: "Some fans have written to the FIA complaining about aspects of this year's race, primarily the park and ride system they were charged for whereas in previous years parking was free.

"These are valid points for them to raise, and we in turn have passed the letters on to Octagon as this is their area.

"We have had nothing from the FIA making any kind of threat regarding the British Grand Prix, and to suggest as such is a load of rubbish."