F1 Confirms Future Of Hungarian Grand Prix

F1 has confirmed the future of the Hungarian Grand Prix with contract update.

The Hungarian Grand Prix is set to stay on the F1 calendar until 2032.

Formula One has confirmed that contract extension for the race at the Hungaroring ahead of this year's grand prix qualifying session. 

The first Hungarian Grand Prix was held in 1986 and has been a fan and driver favourite since then. Seven-time champion Lewis Hamilton holds the lap record of 1:16.627 as well as the record number of wins at the track with eight.

F1 CEO Stefano Domenicali has explained in a statement that the contract has been extended by five years. He commented:

“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.”

CEO and President of the Hungaroring, Zsolt Gyulay, has also released a statement following the news.

“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.“