Overview
- The Hungarian Grand Prix will continue to be a part of the Formula One calendar until at least 2032.
- The extension of the contract was announced on July 22, 2023, and will be in effect from 2027.
- The decision comes after the announcement of significant refurbishment of the Hungaroring, which includes the construction of a new pit building and main grandstand.
Hungaroring Circuit
- The Hungarian Grand Prix has been a part of the Formula One World Championship since 1986.
- The circuit is located approximately 20km outside Budapest.
- Seven-time world champion Lewis Hamilton holds the record for the most wins at the Hungarian Grand Prix, with eight victories to his name.
- This year, more than 300,000 fans are expected to attend the race, a significant increase from the 290,000 attendees last year.
Refurbishment and Upgrades
- Formula One stated that the decision to extend the contract was influenced by the ongoing refurbishment of the Hungaroring circuit.
- The planned renovations include the construction of a new pit building and main grandstand, aimed at enhancing the overall fan experience.
- The renovations are expected to be completed by 2026, promising better facilities for both spectators and teams.
Importance of the Extension
- F1 Chief Executive Stefano Domenicali praised the commitment of the Hungarian promoter to develop the facilities and improve the overall event experience for fans.
- With the rising global popularity of Formula One and increasing competition among venues, the extension marks a significant achievement for Hungary.
- The contract extension secures Hungary’s position on the prestigious Formula One calendar for an additional five years beyond the previous agreement.
Conclusion
The extension of the Hungarian Grand Prix contract until 2032 comes as a result of the ongoing refurbishment of the Hungaroring circuit, demonstrating Hungary’s dedication to the sport of Formula One. With improvements planned to be completed by 2026, fans can look forward to an enhanced experience in the years to come. The decision is significant for Hungary as it ensures its continued presence on the Formula One calendar amid growing global popularity and increasing competition among venues.
