The rules are undergoing a major change this season, with bigger tyres and revised aerodynamics designed to make the cars faster.
Liberty Media completed its takeover of F1 on Monday, and Bernie Ecclestone was replaced by Chase Carey as chief executive.
Chase Carey, who ended Bernie Ecclestone's reign as F1's chief executive, said that the sport will no longer be run as a one-man show.
Liberty said that it had completed the acquisition of Formula One and appointed Chairman Carey to the additional role of Chief Executive.
Media reports have indicated that Silverstone will have to pay nearly 17 million pounds ($21.08 million) to host the race this year.
Liberty Media ended years of uncertainty about the ownership of F1 with the takeover announcement in September.
Valtteri Bottas has joined from Williams to take the place of Germany's Nico Rosberg, who retired in December.
Mercedes announced Valtteri Bottas' arrival on Monday, with the Finn presented as a quick and experienced team mate for Lewis Hamilton.
Brazilian Felipe Massa, who retired at the end of last season, has agreed a one-year contract to take Bottas's seat at Williams.
Williams indicated that only small details needed to be resolved.
According to Sport24 two more sponsors - luxury watchmaker Audemars Piguet, and German door manufacturer Hormann - have now pulled out.
Renault and team principal Frederic Vasseur parted company a day after Mercedes announced the departure of technical head Paddy Lowe.