Hungaroring secures unusually long contract extension
Ahead of the qualifying session of the Hungarian Grand Prix, Formula 1 has announced that the Hungarian Grand Prix will remain on the calendar for an additional five years until 2032, extending the existing deal that runs until 2027.
During the Covid-19 pandemic, Hungaroring’s contract was extended until 2027, and the sport has now announced that five years have been added to the existing contract, meaning that Hungary will host F1 races until at least 2032.
Located just 20km outside the historic city of Budapest, the iconic 4.38km Hungaroring has been part of the F1 calendar since 1986, with many legends of the sport claiming victory at the circuit, including Michael Schumacher and Ayrton Senna, who won four and three Hungarian Grands Prix respectively.
Seven-time world champion Lewis Hamilton holds a record eight wins while five drivers have claimed their maiden F1 victory including Damon Hill, Fernando Alonso, Jenson Button Heikki Kovalainen and Esteban Ocon.
The 2023 Grand Prix also marks a special moment for the country with it being 20 years since Zsolt Baumgartner, the only Hungarian to compete in the sport, made his F1 debut at the Hungaroring.
Only the Autodromo Nazionale di Monza has a longer presence on the F1 schedule with the Italian circuit having hosted races since 1981 without any interruptions.
Before signing the contract extension, it has been promised that the Hungaroring will undergo significant development and refurbishment in the coming years, including a new pit building and main grandstand.
Speaking of the announcement, Stefano Domenicali, President and CEO of Formula 1, said: “It is great news to announce the extension of the Hungarian Grand Prix for an additional five years as we return for another action-packed weekend at the Hungaroring. It is a very special circuit next to the incredible city of Budapest and one all of the drivers and our fans look forward to on the calendar.
“To see the commitment from the promoter in Hungary to develop the facilities and further enhance the experience for fans is another important step and something we want to see all our events doing in order to continue to improve and make our races even better," Domenicali concluded.
Zsolt Gyulay, CEO and President of the Hungaroring, said: “We are proud and honoured to have agreed this contract extension. Given the astonishing rise in F1’s global popularity, which now sees more venues than ever before competing to join the calendar, today’s signing marks a hugely significant achievement for us.
“Fittingly, the updates to our famous circuit - which include renovations to our Main Paddock Building, Main Grandstand and Spectator Zones - are expected to be completed by 2026. It will be a source of great satisfaction to host the teams and fans, who will always be our main priority, at a world-class venue that will reflect the high standards you come to expect for an F1 race weekend.
“My colleagues and I began work on this significant development project eight years ago and today’s announcement acts as the crowning accomplishment for our collective efforts. I would therefore like to thank everyone involved in getting us to this point today and look forward to many more years of premium F1 racing at the Hungaroring.“
