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Hungarian F-1 round to generate record revenues

Officials organizing the Formula One Hungarian Grand Prix said ticket sales for the race are likely to generate more than the record €12 million recorded in 2000.

The officials said that more than 25% more tickets have been sold for the August 3 Hungarian Grand Prix this year than had been sold for the race last year at this time. The Hungarian Grand Prix officials attributed the rise in ticket sales to the 2008 Formula One season's currently tight standings.

Hungaroring Sport President László Palik said at a press conference on Tuesday that negotiations with Formula One Management and Formula One Administration CEO-President Bernie Ecclestone regarding a five-year extension of the contract of Hungary's Formula One racing-circuit Hungaroring to host the Hungarian Grand Prix valid until 2011 had reached an advanced stage. “Things are going very well, so I would not be surprised if an announcement were to be made on the weekend of the race,” Palik said. (MTI – Econews)