Photo: MTI

F1 Hungarian Grand Prix generates record revenue

More than 100,000 fans are attending Sunday's Formula One Hungarian Grand Prix at the Hungaroring, generating record revenue for the event in the new era, Zsolt Gyulay, chief executive of Hungaroring Sport, the organiser of the Grand Prix, told MTI.

A total of 303,000 fans have attended this year’s race weekend, including 5,000 who were there for Thursday’s pit lane walk, Gyulay told MTI.

As regards the contract extension for the Hungarian Grand Prix announced on Saturday, he said it was a “good feeling” that the talks were concluded.

Meanwhile, Gyulay could not say whether it was harder or easier to organise a Formula 1 race 10-20 years ago than it is today.

“I’d say that it’s totally different now than in the past,” he said. “These race weekends have almost become four-day festivals, plus the rights holder lays down a huge set of requirements, so a lot of conditions have to be met, there’s a lot more work, more people are needed, and it obviously costs a lot more.”

“But the tickets sell and that’s how we make a living, so from that standpoint the organisation is easier these days,” he said.

Gyulay, state secretary for sports Adam Schmidt and F1 CEO Stefano Domenicali announced on Saturday that the Hungaroring’s contract to host the Formula One Hungarian Grand Prix has been extended by five years until 2032.

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