Running out of time? First attempt to save Sziget Festival ends in failure
Efforts to secure the future of Budapest’s world-famous Sziget Festival have suffered a setback after the city’s Ownership Committee failed to approve the termination of the current land-use agreement with Sziget Plc.
Mayor Gergely Karácsony announced on Thursday afternoon that his proposal did not gain a majority in the committee. Representatives of Fidesz abstained from voting, while members of the Tisza party also refrained, leaving the motion without support.
According to Karácsony, this decision prevents the city from signing a new regulatory agreement, as no new permit can legally be issued while the existing one remains in force. “We know that under the old agreement, the foreign owner — after accumulating billions in losses — will not organise next year’s festival,” he said. “If we want a new, Hungarian-owned Sziget Festival in 2026, the old contract must be terminated and a new one concluded.”
The mayor warned that time is critical. If ticket sales for next year’s festival cannot begin within this month, Sziget will become “economically impossible” to stage. He added that he did not understand why the committee rejected the proposal, but would call for another meeting to revisit the decision.
“I urge the committee to invite experts, seek advice, do anything — just don’t make the mistake of depriving thousands of people of the feeling of freedom, and Budapest of a cultural treasure,”
Karácsony wrote in a Facebook post.
Sziget Festival is for sale
Earlier this week, Karácsony revealed that Sziget Plc.’s parent company had requested to terminate its land-use agreement with the capital. The festival organiser itself confirmed that the future of the event was uncertain, as the current foreign owner was unwilling to take further financial risks.
Sziget’s founder, Károly Gerendai, also weighed in, saying he was actively looking for investors to help secure the festival’s long-term survival. In an interview with Népszava, Gerendai emphasised that decisions must be made in October: “By now, ticket and pass sales should already have started,” he said, expressing hope for an agreement with the current owners.