Hungary to host Formula 1 until 2032; Hungarian Grand Prix contract extended

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Also read: Ryan Reynolds Buys Stake in F1 Racing Team, Growing His Business Empire Formula 1 President and CEO, Stefano Domenicali, expressed his excitement about the extension and highlighted the circuit's popularity among drivers and fans.  He said, “It is great news to announce the extension of the Hungarian Grand Prix for an additional five years."  He also praised the promoter's commitment to improving the facilities and enhancing the overall experience for attendees. Also read: Formula 1 racing launches first subscription platform in India “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," he added.

Zsolt Gyulay, CEO and President of the Hungaroring, expressed his pride and honour at securing the contract extension. He noted the rising global popularity of Formula 1 and the importance of the updates and renovations to the circuit's facilities to meet the high standards expected from an F1 race weekend.

Gyulay said, "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 These enhancements ensure that the Hungaroring remains a world-class venue capable of meeting the high standards expected for an F1 race weekend. The primary focus remains on accommodating teams and fans, making them the top priority during the racing events.  The CEO further revealed that the journey towards this development project began eight years ago, with the involvement of dedicated colleagues.