Hungary agrees new deal

The Hungarian Grand Prix will remain on the F1 calendar until at least 2016 after agreeing a new contract.

The popular race, held in Budapest, has been a permanent fixture since 1986 and signed a contract extension just three years ago.

But Hungary’s national development minister Miklos Sesztak revealed a deal is close to being signed.

He said:  "Without giving out secrets regarding the details of our contract, I can tell you we'll be able to organise and run our F1 race for another five-year period under very favourable terms.

"However, despite the fact that after the grand prix everybody seems to be satisfied, saying they've had a great time here, we know further improvements are needed.

"The resurfacing work that has just finished was the first step in this direction.

"I can reveal the 2017 [governmental] budget submits substantial resources earmarked for the development of the circuit.

"This is because every year the race is one of the most important sporting events for our country, so the government of Hungary is committed to a good quality track such as the Hungaroring."

✅ Check out more posts with related topics: