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The prime minister met Stefano Domenicali, chairman and CEO of Formula One, in Mogyoród. After the discussion, Magyar said: “It is remarkable that the Hungaroring has been operating continuously for 40 years to everyone’s satisfaction.”
“We have a contract with Liberty Media until 2032, but I had the opportunity to speak with Mr. Domenicali. Everyone is satisfied because a record number of spectators attended this weekend. … We discussed how this could be developed further because both Formula One and Liberty are working to extend these three- or four-day events so that countries can make the most of the series’ potential from both an economic and tourism perspective,” Magyar said.
“We have a new government, but support for the Hungaroring remains unchanged. We need to review the figures because, according to the contract, the previous government spent 90 billion forints on renovating and constructing buildings. … We must investigate where the costs are going and how we can manage public funds even more efficiently,” he said.
“We agreed with Formula One management that we will continue negotiations because we have another five-year option after 2032, and we must work out the details,” the prime minister said.
“It would be important for as many Hungarians as possible to be able to come here because, although it is a fantastic export product from a tourism and marketing perspective, 70%-80% of the spectators come from abroad. … It is a tremendous achievement and of historic significance that the first race behind the Iron Curtain took place in Hungary in 1986, and the Hungaroring has survived many challenges in Hungary. We must work to make it even better,” Magyar said.
He highlighted that the series has a highly professional team and said “we should be proud that the work of Hungarians adds so much value.”
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