Bernie Ecclestone says he would be "very upset" not to see a British Grand Prix in 2010 - but that he will not cut a cheap deal to ensure it goes ahead.
Formula 1's impresario said a deal was on the table for Silverstone, now the only available track after Donington failed to raise the required funds.
"We've been negotiating for too long," Ecclestone told BBC Sport.
"That deal is better than anybody else's deal anyway so if they don't like it, it's OK."
The proposed move from Silverstone to Donington Park for 2010 and beyond collapsed because the company redeveloping the circuit failed to raise the £135m funding required.
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It's not just a case of [Silverstone] signing the contract and paying. They must raise their standard
Bernie Ecclestone
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Silverstone are now trying to ensure there will be a British race next year, but Ecclestone is adamant the deal he has offered is non-negotiable - and that the circuit's facilities will need modernising.
The 79-year-old contrasted Silverstone with the new state-of-the-art Yas Marina track in Abu Dhabi, which is hosting the season finale this weekend and is part of a £32bn state-funded redevelopment.
Ecclestone said: "People will start to understand when they see these sort of things, what we've been complaining about with Silverstone and Magny-Cours [in France] and all those places.
"It's not just here but everywhere that has raised the standard so higher. This is just even on top of that.
"It's not just a case of [Silverstone] signing the contract and paying. They must raise their standard.
"They have a contract if they want to sign it. I'd be delighted. If they don't want to sign it it's OK."
The negotiations with Ecclestone are being handled by Silverstone Holdings Ltd, the business arm of Silverstone, which is owned by the British Racing Drivers' Club.
Neil England, the non-executive chairman of Silverstone Holdings, has been conducting the talks with Ecclestone.
On Thursday, Business Secretary Lord Mandelson contacted Ecclestone to stress the importance of Formula 1 and the British GP to the UK.
"This is a very British institution and every effort must be made to keep the race in the UK," said Mandelson.
"Losing it would be a body blow to UK sport, the teams, and the fans. Bernie reassured me he was doing everything possible to maintain the British Grand Prix in the UK. "
Former F1 world champion Damon Hill, president of the BRDC, said on Tuesday that he feared its future is far from certain because of competition from around the world - such as countries like Korea.
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606: DEBATE
jaguarlass
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"F1 can go anywhere in the world and get a huge amount of money," he told BBC Radio 5 live.
"That's what Bernie's wrestling with. But it's not his job to give a discounted job to the UK."
The British GP has been held every year since 1948 and has a rich history, while recently English drivers Lewis Hamilton and Jenson Button have won 2008 and 2009 world titles respectively with Brackley-based Brawn also clinching this year's constructors' crown.
Silverstone has hosted every British Grand Prix since 1987, while Donington, which is synonymous with MotoGP, has held only one F1 race, the European Grand Prix in 1993.
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