F1 supremo Bernie Ecclestone has admitted that it now look as though the British Grand Prix will not happen in 2005, following the break down of communications between the relevant parties.

"We have to admit defeat and end the discussions," he told British tabloid The Daily Express. "We have been unable to reach agreement on the length of the commitment or the financial terms. It looks certain there will not be a British GP in 2005."

In a nutshell, Ecclestone wanted the British Racing Drivers' club (BRDC), owner of Silverstone, to accept a one-year deal with an option on a further six years, while the BRDC wanted a two-year deal with five-year extension.

What more can anyone do?" he said. "The BRDC want everything their way. Business life is not like that."

If this is the end of the British Grand Prix, it brings to an end a war of words that has raged for many years, most of the verbal abuse coming from the F1 supremo who has continually lambasted the Northamptonshire circuit and its owners of being stuck in a 'time warp'.

"As much as I would like to have a British Grand Prix, I have done more than I have for any other race in the world to try to keep it on," he added. ""But I cannot make a deal without the other side and I have to move on.

"I have a country knocking down my door for a race who are prepared to invest hundreds of millions of dollars to build a state-of-the-art circuit for F1 in the 21st century," he admitted. "They would pay substantially more than we have agreed to accept from the BRDC.

"I can't make a sensible business case for turning them down in order to give the BRDC a two-year deal at a significant discount, which they want while they try to make up their minds what they want to do."

The government has ruled out any hope financial support, while the proposal from a consortium led by former world champion Nigel Mansell, Brand Synergy, bordered on fantasy, appearing to be nothing more than a publicity stunt.