Hungarian Grand Prix targets Formula 1 contract extension until 2037. Hungarian GP targets F1 contract extension until 2037.

The Hungarian Grand Prix aims to extend its contract with Formula 1 until 2037. Interviewed on this matter at the recent event which took place at the Hungaroring circuit, Hungarian politician Laszlo Palkovics, who has been the Minister for Innovation and Technology since May 2018, also confirmed that the track structure of the Hungarian circuit should undergo extensive modernization work.

“I assured Stefano Domenicali that the Hungarian government wants to continue hosting Formula 1 in Hungary” – Laszlo Palkovic said – “We have a financial agreement until 2032 and I suggested we would like to extend it for five or ten years. It has been accepted that after 2032 we have this option until 2037, and therefore we would like to have F1 in Hungary until 2037. Of course there is a lot to do, as this track was built in 1986 and is a relic of the past. It is no longer up to modern standards.” – the Hungarian the Minister for Innovation and Technology concluded.