Formula 1

F1 News: Hungarian Grand Prix Contract Extension Announced

The Hungarian Grand Prix will continue to be a feature on the F1 calendar till 2032. The contract extension was announced ahead of this year’s exciting qualifying session, sealing the deal for the beloved race at the Hungaroring.

The inception of the Hungarian Grand Prix traces back to 1986, and since then it has carved a niche in the hearts of fans and drivers alike. Racing legend Lewis Hamilton maintains a strong presence at the track, holding the lap record of 1:16.627 and the highest number of wins, a whopping eight.

BUDAPEST, HUNGARY – JULY 22: Sergio Perez of Mexico driving the (11) Oracle Red Bull Racing RB19 on track during qualifying ahead of the F1 Grand Prix of Hungary at Hungaroring on July 22, 2023 in Budapest, Hungary. (Photo by Francois Nel/Getty Images) // Getty Images / Red Bull Content Pool // SI202307220245 // Usage for editorial use only //

Stefano Domenicali, the CEO of F1, further elaborated on the five-year extension in a statement, sharing his enthusiasm:

“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.”

Sharing in the joy of this news, Zsolt Gyulay, CEO and President of the Hungaroring, conveyed his sentiments in a statement:

“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.“

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