Exciting News for Formula 1 Fans as Iconic Hungaroring Renews Deal for Additional Five Years
Formula 1 fans can rejoice as the Hungarian Grand Prix will remain a prominent fixture on the Formula 1 racing calendar until 2032, thanks to a recent contract extension. Formula 1 officially confirmed that the Hungarian Grand Prix will continue to be part of the Formula 1 calendar for an additional five years beyond the original deal, which was initially set to expire in 2027.
The agreement also entails a comprehensive development and modernization plan for the iconic Formula 1 Hungaroring circuit. Notable upgrades will include the construction of a state-of-the-art Formula 1 pit building and an enhanced main grandstand.
Having been an integral part of Formula 1 since 1986, the Hungaroring has witnessed some of the Formula 1 sport’s greatest drivers triumph on its challenging track. Racing legends like Michael Schumacher and Ayrton Senna have each clinched four and three Formula 1 Hungarian Grands Prix victories, respectively.
In addition to this exciting news, it was reported that Hollywood actor Ryan Reynolds has made a significant investment in an Formula 1 racing team, expanding his ever-growing Formula 1 business empire.
Formula 1 Stefano Domenicali, President, and CEO of Formula 1, expressed his enthusiasm for the contract extension, highlighting the enduring popularity of the Formula 1 Hungarian circuit among drivers and fans. He enthusiastically stated, “The decision to extend the Formula 1 Hungarian Grand Prix for an additional five years is truly fantastic news.”
Domenicali also commended the promoters’ unwavering dedication to enhancing Formula 1 facilities and creating an enhanced Formula 1 experience for all spectators attending the event.
He further elaborated, “Observing the commitment of the Formula 1 promoters in Hungary towards Formula 1 facility development and improved fan experiences is another remarkable step forward, and we are committed to continuously enhancing all our Formula 1 events and making our Formula 1 races even more exceptional.”
József Gyulay, CEO and President of Formula 1 Hungaroring, expressed immense pride and honor regarding the contract extension. He emphasized the significance of modernizing the Formula 1 circuit’s facilities to meet the ever-increasing global appeal of Formula 1 and to meet the high standards expected during the Formula 1 race weekends.
Gyulay added, “The ongoing refurbishments, which include our main paddock building, main grandstand, and spectator zones, are expected to be completed by 2026. These Formula 1 improvements are aimed at maintaining Hungaroring’s status as a world-class Formula 1 venue, capable of delivering an exceptional Formula 1 race weekend experience. Our primary focus remains on accommodating Formula 1 teams and fans and providing them with the best possible Formula 1 racing event experience.”
The Formula 1 CEO also acknowledged the collective Formula 1 effort that began eight years ago, leading up to this significant Formula 1 milestone. He shared, “Today’s Formula 1 announcement is the pinnacle of our joint Formula 1 endeavors.”
Gyulay extended heartfelt Formula 1 gratitude to everyone involved in achieving this Formula 1 milestone and eagerly anticipated hosting premium Formula 1 racing at Hungaroring for many more years to come.
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