Hungaroring F-1 Track to See Major Revamp

The government has decided to support the planned development of the Hungaroring in Mogyorod near Budapest, and according to preliminary plans, the 2026 Hungarian Formula 1 Grand Prix will be held in the completely renewed facility, said Ádám Schmidt, State Secretary for Sport, at a press conference held at the Mogyorod race track on Tuesday.

The state secretary added that under the latest government decision, the ownership of the Hungaroring has been transferred to the National Sports Agency, which is a back office of the State Secretariat.

The government has also decided to support the long-delayed renovation of the Hungaroring, which has been under negotiation for a long time,

said Ádám Schmidt. He stressed that Hungary has a valid contract to stage Formula 1 races at Hungaroring until 2026, and the extension from 2027 to 2032 is conditional on the planned improvements being completed.

“The background work has already begun, the technical content of the conditional public procurement procedure is being drawn up, and we are confident that this procurement can be launched within 40-45 days,” the state secretary said. The construction work could start in autumn 2024, the 2025 Hungarian Grand Prix would be held in a “transitional phase,” and the renovated facility could host the Hungarian F1 race in 2026.

Zsolt Gyulay, Chairman and CEO of Hungaroring Sport Zrt., stressed that the current state of the utilities and infrastructure does not meet the requirements of the International Automobile Federation (FIA) at all. “I feel that together with the improvements we are making, we will also reach a faster and more modern form of operation that is more compatible with the accelerated world of Formula 1,” he stressed. He added that he took over the management of the facility in 2010 under difficult circumstances, but that the facility has made a profit in 11 of the last 12 years and that this year it is expected to make a profit of over one billion forints (EUR 2.6 million).

“The utility development, which is the basis for all this, has already started, and the new pipeline system will be able to meet the demand at Hungaroring for about 40-50 years,” said Gyulay.
The CEO also revealed that during the negotiations on contract extensions over the past 12 years, the Hungarian state managed to save 107 billion forints until 2027, because they kept “bargaining” for the ever-increasing amount of royalties.

“If we can successfully agree on the next extension, the agreement will include a five-year option beyond 2032, which will of course have to be renegotiated. At the same time, we will have the longest valid contract in Europe, but we will not be in a bad position globally either,” said Gyulay.

He said that the planned development will include the reconstruction of the main building in the paddock, the so-called depot behind it, as well as the covered grandstand and the main entrance gate at the finish line. It was said that the possibility of renovating the Hungaroring in such a way that it could later host world speed motorcycle championship races is being examined.

Via Mti. Featured Photo: Facebook Hungaroring