The Hungarian Grand Prix contract is extended by Formula 1 until 2032.

The Hungarian Grand Prix will remain on the F1 calendar for an additional five years, until 2032, Formula 1 has announced. The existing agreement, which was valid until 2027, was extended until 2032, according to the Formula 1 website. A new pit building and main grandstand will be built as part of the circuit’s significant development over the course of this contract.

Stefano Domenicali, President and CEO of Formula 1 expressed his excitement by saying, “It is wonderful news to announce the extension of the Hungarian Grand Prix for an additional five years,”

He further added, “Another crucial step that we want to see all of our events take in order to keep improving and make our races even better is to see the promoter’s dedication to Hungary to expand the venues and further improve the fan experience.

 

Since 2015, construction has been underway on a new pit structure and main grandstand, which should be finished in time for the 2026 competition. The Hungarian Grand Prix will take place in 2024 as it did the previous two years, as the sixth and final race before the summer break. The dates are July 19–21. 

Since 1986, the Hungaroring has been a part of the F1 calendar. This season, 300,000 spectators are expected to attend the GP there, an increase of 10,000 from the previous one.

 

“Our agreement to this contract extension makes us proud and honoured” , said Zsolt Gyulay, CEO and President of the Hungaroring.

“With more venues than ever vying to join the calendar due to F1’s astounding rise in popularity around the world, today’s signing represents a major victory for us. It is only fitting that the updates to our renowned circuit, which will include work on the Main Grandstand, Main Paddock Building, and Spectator Zones, are scheduled to be finished by 2026.”, he added

“It will give us great pleasure to welcome the teams and fans, who are always our top priorities, at a top-notch location that meets the high standards you have come to expect from an F1 race weekend. Eight years ago, my coworkers and I started working on this significant development project, and today’s announcement serves as the culmination of our combined efforts. Therefore, I would like to thank everyone who has contributed to getting us to where we are today and look forward to many more years of premier F1 racing at the Hungaroring.” he further stated.