Red Bull Air Race Returning To Hungary
- 25 Aug 2014 9:00 AM
The government has agreed to finance the Red Bull Air Race with Ft 5.4 billion over the next three years, according to the official public gazette Magyar Közlöny. The Budapest race, held on August 20 during 2003-09, was scrapped in 2010.
State-owned Hungaroring will pay an annual Ft 1.8 billion to organise the event in the 2015-17 period, which is set to generate Ft 59 billion in total, the Development Ministry told Napi Gazdaság.
As the gains will be felt not only in the creation of jobs and extra tax revenues, but also increased media attention, the investment will recover its costs several times over, the ministry added.
Source: Hungary Around the Clock
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