Formula One boss Bernie Ecclestone has described Silverstone as the sport's worst circuit and called on the government to invest in improvements.
Ecclestone is in favour of a London Grand Prix
Ecclestone has repeatedly warned that the historic venue is in danger of losing the British Grand Prix.
"Britain is supposed to be the heart of Formula One racing and our circuit is bottom of the list," he said.
"With a tiny percentage of what the government are wasting on the Olympics, they could support Silverstone."
Silverstone's contract to stage the British GP expires in 2009, but a £25m redevelopment has been approved by the British Racing Drivers' Club, who own the Northamptonshire circuit.
I just don't understand why it isn't happening
Bernie Ecclestone on the London Grand Prix
Ecclestone said: "They know exactly what they have to do. They've known for at least five years.
"It's not for us to say where the money comes from but it's strange because most of the events we have now are supported by governments."
Ecclestone is also baffled as to why the move to stage a Grand Prix on the streets of London appears to have stalled.
Speaking at the launch of a the official F1 season review DVD, he added: "Things were sorted out very nicely in London.
"Mayor Ken Livingstone was very helpful and we laid a plan out of what we could do.
"It would have happened, it was just a question of where the money was going to come from.
"It would cost a small amount compared to what they're spending on the Olympics.
"If they look at it from a pure business point of view, all the revenue it would bring in, I just don't understand why it isn't happening."