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Hungarian GP secures contract extension until 2027

  • Published on 05 Jun 2020 17:52
  • comments 1
  • By: Fergal Walsh

The Hungarian Grand Prix will remain on the Formula 1 calendar until at least 2027 after signing a one-year extension.

The race near Budapest has been present on the F1 schedule since 1986, and was the first grand prix to be held behind the Iron Curtain.

This year, the Hungarian GP will be the third race on the calendar on July 19 as part of a revised timetable amid the ongoing coronavirus pandemic.


MOREHungarian GP in 2020 to take place without fans


In 2016, the track signed a new long-term deal that would see it remain as part of the F1 circus until 2026, and now that deal has been extended by an extra year.

“We have been liaising with Liberty Media in how to compensate the missing profit, because the organisational cost is not lower in the case of a closed event,” said Zsolt Gyulay, CEO of Hungaroring Sport.

“We did our best during the discussions to get a good agreement both for the country and the sport even in these challenging times. We cannot say exact numbers, but rights fee is fragmant to the one we pay in case of an open event.

“Furthermore, we have achieved an extension in our contract, so now it is valid until 2027 instead of 2026.

“The yearly increase of the rights fee also has been reduced, so we have spared several billions of HUF [Hungarian Forints] for the state. All in all, I can say that we were wise and we spared a lot.”

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  • Good news IMO, I always look forward to the Hungarian GP.

    • + 0
    • Jun 6 2020 - 07:53

BE Grand Prix of Belgium

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BE Grand Prix of Belgium

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Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
-
Spain
-
Spain
3 - Jul 5
Austria
10 - Jul 12
Austria
17 - Jul 19
Hungary
31 - Aug 2
United Kingdom
7 - Aug 9
United Kingdom
14 - Aug 16
Spain
28 - Aug 30
Belgium
4 - Sep 6
Italy
11 - Sep 13
Italy
25 - Sep 27
Russian
9 - Oct 11
Germany
13 - Nov 15
Turkey
27 - Nov 29
Bahrain
10 - Dec 13
United Arab Emirates
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
3 - Jul 5
Austria Red Bull Ring
10 - Jul 12
Austria Red Bull Ring
17 - Jul 19
Hungary Hungaroring
31 - Aug 2
United Kingdom Silverstone
7 - Aug 9
United Kingdom Silverstone
14 - Aug 16
28 - Aug 30
4 - Sep 6
Italy Monza
11 - Sep 13
Italy Mugello
25 - Sep 27
Russian Sochi Autodrom
9 - Oct 11
Germany Nurburgring
13 - Nov 15
Turkey Istanbul Park
27 - Nov 29
10 - Dec 13
United Arab Emirates Yas Marina Circuit
See full schedule
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