Hill succeeded Jackie Stewart as President of the BRDC in 2006
Damon Hill says that he is confident a deal can be reached for Silverstone to host the British Grand Prix.
Hill is the president of the British Racing Drivers' Club, who own the Northamptonshire track.
Hill told BBC Radio Northampton: "I'm confident a deal can be worked out. The contract can be of any combination of years, but it has to be affordable.
"There's a huge desire to get the deal done, but we're not prepared to put [Silverstone] at risk financially."
Donington announced on Friday that they had failed to raise the capital for reconstruction of the circuit.
The contract being offered to Silverstone by Bernie Ecclestone is still to be signed by the BRDC.