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 at the Hungaroring, on the outskirts of Budapest.
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.
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, Gulyás said.
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.
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