• Home
• Channel: Sport
• Hungarian Grand Prix: Hungaroring Race Track Upgrade Update

Hungarian Grand Prix: Hungaroring Race Track Upgrade Update

• 13 Feb 2024 7:04 AM
• Hungary Matters

The ongoing upgrade of the Hungaroring race track is set to cost less than the hosting fee discount Hungary negotiated last year for the extension of the track’s contract to host the Formula One Hungarian Grand Prix, the head of the Prime Minister’s Office said on Monday.

The Hungarian state will save 107 billion forints (EUR 276.2m) with the hosting fee discount negotiated with F1’s commercial rights holder for the contract extension until 2032, Gergely Gulyás told Hungarian GP organiser Hungaroring Sport’s press conference.

The public procurement to upgrade the Hungaroring’s infrastructure, primarily the paddock, by 2026 was won by a 78.9 billion forint bid, Gulyás noted.

So far, 12 billion forints has been paid out, and the upgrade is currently in its second phase, he said, adding that a total of 9,000 people will be working at the track over the course of the project.

Hungaroring Sport chairman and chief executive Zsolt Gyulay said the paddock will be expanded by 3,000 square metres to 8,300sqm, while the paddock building’s floor area will increase to 31,017sqm, explaining that the pit lane also has to be extended to comply with the FIA’s regulations.

Photo: courtesy of Market Építő Zrt. - Market-csoport

You're very welcome to comment and discuss this, and enjoy more stories, via our Facebook page: 
Facebook.com/XpatLoopNews + via XpatLoop’s group: Budapest Expats - The International Community

You can subscribe to our newsletter here:
XpatLoop.com/Newsletters

Do you want your business to reach tens of thousands of potential high-value expat customers?
Then just contact us here!

Related links

Hungaroring Race Track Upgrades Get Gov't Backing

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Hungarian Grand Prix: Hungaroring Race Track Upgrade

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

F1 Race Success for Piastri in Hungary - Most Spectators Were Foreigners, Major Upgrade Of Hungaroring Ahead

• 22 Jul 2024 10:45 AM

Oscar Piastri took his maiden F1 grand prix win ahead of team mate Lando Norris in a dramatic race full of see-sawing action in Hungary, with Lewis Hamilton taking third place.



Record Revenue at F1 Hungarian Grand Prix, Contract Extended Until 2032

• 24 Jul 2023 12:00 PM

Max Verstappen showcased his F1 dominance in Hungary by securing a commanding victory over his competitors, Lando Norris and Sergio Perez.



Insider’s Guide: Hungarian Grand Prix for F1 Fans & Party People

• 19 Jul 2023 3:22 PM

Every year at the very height of summer, the world’s greatest racing drivers and the Grand Prix circus around them descend on Budapest to take the Hungaroring track and the city’s hotel bars by storm. It’s always impossibly hot but everybody seems to have great time, both at the circuit at Mogyoród just outside Budapest and in town.



Great Summer of Sport Ahead in Budapest

• 26 Jun 2023 3:36 PM

Budapest is hosting a number of high-profile sports events this summer, including the prestigious World Athletics Championships for which a new stadium has just been unveiled. Look out, too, for the ever-popular Grand Prix, soon approaching its 40th anniversary.