The Hungaroring is making good on its promise to upgrade the almost 40-year-old Formula 1 circuit in order to secure Hungary’s place on the calendar.
Early last year, with the existing contract set to run out in 2027, track boss Zsolt Gyulay admitted that the circuit facilities "no longer meet the requirements of Formula 1".
He vowed to upgrade the garages, make the paddock wider, renovate the pit building, build a new main grandstand and HQ building and more - leading to successful renewal talks with F1 CEO Stefano Domenicali.
The new contract now runs to 2032, with Hungarian media reports even suggesting the deal includes options to stay behind the former iron curtain even beyond that.
"To see the commitment from the promoter to develop the facilities and further enhance the experience for fans is another important step and something we want to see all our events doing," Domenicali said.
Gyulay added: "Given the astonishing rise in F1’s global popularity, which now sees more venues than ever before competing to join the calendar, today’s signing marks a hugely significant achievement for us."
And as per the new deal, the first part of the Hungaroring renovations have been taking place over the off-season - involving demolition, excavation, and the addition of a crane tower as the pit building and paddock works begin.
"The redevelopment of the circuit is in full swing," the Hungaroring confirmed.
The entire project is scheduled for completion in 2026.