Constant rain on Friday made grass car parks unusable and left lengthy traffic jams outside the track.
As a result a tearful Phillips was forced to recommend that up to 30,000 fans stay away from Saturday's qualifying in an effort to allow the land to recover, although he estimated that only around 10,000 actually heeded that advice.
But the track was able to accommodate all ticket holders on raceday and contingency measures such as encouraging spectators to car share, bumper-to-bumper car parking and staggered leaving times proved largely successful.
Silverstone came in for criticism, but the weekend's events were down to the exceptional circumstance of the wettest June on record being followed by heavy rainfall on Friday and Saturday.
But the circuit is likely to take a heavy financial hit after pledging to refund any unused Friday and Saturday tickets, with Phillips estimating that the figure could run as high as seven figures.
While he cut a disconsolate figure on Friday, and briefly considered his future, Phillips has declared he wants to see through the job he has started at the Northamptonshire track.
"On Friday night I was pretty emotional and I take it personally, I take it seriously," he said.
"I did think 'should I be in charge? Is it sustainable?' But I have always wanted to see it through.
"I love this place, there is a long way to go with it, we have come a long way but it's a great circuit and I am lucky to have the job I have got, I would love to be here next year."
Phillips was able to report that a near capacity crowd watched Sunday's race, and he is confident the weekend's events will not have a negative impact on ticket sales for next year's race.
"Even on Friday we sold £40,000 of tickets for next year," he said.
Silverstone has seen many upgrades over the last decade with improved road access and a new track layout and pits and paddock complex among them.
But the circuit is continuing to search for an investor to aid further development plans.
Phillips said: "It (the weekend) makes it very important (to find new investment) but we have to get the right one.
"The interest is there, these are very expensive places to run and having someone come in with some extra cash would be fantastic. It would enable us to do better things.
"We were in exclusivity with one particular party and that didn't work out, but the other people who were there prior to that are still there."
Phillips also stated the priorities for next year will include sorting out the campsites, preserving car parking and making more use of the park and ride scheme, which proved particularly successful.