F1 not ruling out London GP

London - The chances of a Formula 1 street race in London have taken a clear step forward this week.

The boost comes as Silverstone exercised a post-2019 break clause in its existing long-term British grand prix contract.

READ: Silverstone to axe British GP on Tuesday

Promoter the BRDC hopes to renegotiate the deal with Liberty Media, but representatives of the F1 owner are promising nothing.

"It is certainly our plan as long as we're running formula one to have a race in the UK," said F1 CEO Chase Carey.

And commercial boss Sean Bratches added: "From a formula one standpoint we are very committed to a British grand prix going forward."

Even London mayor Sadiq Khan is not ruling out the possibility of a London street race.

READ: British GP: Could London host an F1 street race?

"I want London to be the sporting capital in the world," he said at the F1 demonstration extravaganza in London on Wednesday.

"If F1 want to talk to me, I'm happy to listen."