The venue in Budapest had already arranged the necessary documents to host the race until 2027, but the agreement has now been prolonged.
The construction of a new pit building and main grandstand, which has been underway since 2015, is anticipated to be finished in time for the upcoming event in the following year.
In 2024, the Hungarian GP will once again take place as the second-to-last race before the summer break, following the pattern of the past two years. The race is scheduled for the dates of July 19th to July 21st.
“I am pleased to announce that the Hungarian Grand Prix has been extended for another five years, allowing us to return to the exciting Hungaroring circuit for yet another thrilling weekend,” stated Stefano Domenicali, F1 president and CEO.
“It is an exceptionally unique track located near the astonishing city of Budapest, eagerly anticipated by both drivers and our fans when it appears on the calendar.”
“To see the commitment from the promoter in Hungary to develop the facilities and further enhance the experience for fans is another important step and something we want to see all our events doing in order to continue to improve and make our races even better.”
Since 1986, the Hungaroring has been included in the F1 schedule, and it is anticipated that 300,000 spectators will be present at the Grand Prix this weekend. This represents a rise of 10,000 compared to the previous year.
Zsolt Gyulay, CEO and President of the Hungaroring, added: “We are proud and honoured to have agreed this contract extension.
Kevin Magnussen, Haas VF-23
Photo by: Glenn Dunbar / Motorsport Images
Due to the remarkable increase in F1’s worldwide appeal, with an unprecedented number of venues vying to be included in the calendar, the signing that took place today represents a highly important accomplishment for us.
The anticipated completion date for the updates to our well-known circuit, which encompass improvements to our Main Paddock Building, Main Grandstand, and Spectator Zones, is 2026.
Hosting the teams and fans at a top-notch location, which will embody the elevated expectations for an F1 race weekend, will bring us immense joy and remain our utmost focus.
Eight years ago, my coworkers and I initiated this important development project, and the recent announcement serves as the ultimate achievement for our combined endeavors.
Therefore, I would like to express my gratitude to all those who contributed to reaching this milestone today. I eagerly anticipate numerous additional years of exceptional Formula 1 racing at the Hungaroring.