LONDON (REUTERS) - Hungarian Grand Prix organisers have negotiated a year's contract extension to 2027 to compensate for having to hold this year's Formula One race without spectators due to the Covid-19 pandemic.. Read more at straitstimes.com.
LONDON - Hungarian Grand Prix organisers have negotiated a year's contract extension to 2027 to compensate for having to hold this year's Formula One race without spectators due to the Covid-19 pandemic.
Hungaroring chief executive officer Zsolt Gyulay said there had been discussions with Formula One's commercial rights holders Liberty Media about compensation for the lack of ticket revenues. "We cannot say exact numbers, but rights fee is a fragment of the one we pay in case of an open event. Furthermore, we have achieved an extension in our contract, so now it is valid until 2027 instead of 2026."The Hungarian Grand Prix has been held every year since the first in 1986.
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