The Budapest venue already had paperwork in place to run the race until 2027 however that deal has now been prolonged.
A brand new pit constructing and most important grandstand, which have been within the works since 2015, are anticipated to be accomplished in time for subsequent yr’s occasion.
As per the final two years, the Hungarian GP will run because the penultimate race earlier than the summer time break in 2024. It has a 19-21 July slot.
F1 president and CEO Stefano Domenicali stated: “It’s nice information to announce the extension of the Hungarian Grand Prix for a further 5 years as we return for an additional action-packed weekend on the Hungaroring.
“It’s a very particular circuit subsequent to the unimaginable metropolis of Budapest and one the entire drivers and our followers stay up for on the calendar.
“To see the dedication from the promoter in Hungary to develop the services and additional improve the expertise for followers is one other essential step and one thing we wish to see all our occasions doing with a view to proceed to enhance and make our races even higher.”
The Hungaroring has featured on the F1 calendar since 1986 and 300,000 followers are anticipated to attend the GP this weekend, marking a ten,000 improve on final season.
Zsolt Gyulay, CEO and President of the Hungaroring, added: “We’re proud and honoured to have agreed this contract extension.
“Given the astonishing rise in F1’s international reputation, which now sees extra venues than ever earlier than competing to affix the calendar, at the moment’s signing marks a vastly vital achievement for us.
Esteban Ocon, Alpine A523, Charles Leclerc, Ferrari SF-23, within the pit lane
Picture by: Glenn Dunbar / Motorsport Images
“Fittingly, the updates to our well-known circuit – which embrace renovations to our Fundamental Paddock Constructing, Fundamental Grandstand and Spectator Zones – are anticipated to be accomplished by 2026.
“It is going to be a supply of nice satisfaction to host the groups and followers, who will at all times be our most important precedence, at a world-class venue that can replicate the excessive requirements you come to anticipate for an F1 race weekend.
“My colleagues and I started work on this vital improvement undertaking eight years in the past and at the moment’s announcement acts because the crowning accomplishment for our collective efforts.
“I’d subsequently wish to thank everybody concerned in getting us so far at the moment and stay up for many extra years of premium F1 racing on the Hungaroring.”