F1 Hungarian Grand Prix contract extended till 2032
Schmidt told the press conference that the Formula One Group had made the extension conditional on a full upgrade for the Hungaroring by the 2026 race.
He said the plan was to close the public procurement procedure for the upgrade by the end of the year and start preparatory works in early 2024, adding that the new contract had been signed by Defence Minister Kristof Szalay-Bobrovniczky.
The Hungarian Grand Prix has been a fixture on the F1 calendar since 1986, making the Hungaroring the second oldest track behind Monza to host races without interruptions, Schmidt said.
Domenicali said F1 wanted to see the commitment and effort to upgrades displayed by Hungary at every venue.
Gyulay said the Hungaroring would undergo a complete upgrade by 2026, including the pitlane and paddock building, the main grandstand and the fan zone.
Ticket sales show that the 2023 Formula 1 Hungarian Grand Prix weekend is expected to be attended by more than 300,000 people.