The Hungarian Grand Prix has extended its stay on the F1 calendar after a new deal was signed.
The Hungaroring will feature as part of the sport's bustling schedule until at least 2032 as part of the new deal, which was announced before qualifying for this year's event.
Budapest's venue boasts the second-longest streak on the calendar having featured since 1986, with only Monza having been a longer constant.
This streak will continue past the existing deal, which ran until 2027, with F1 locking in the event following news the venue will undergo development and refurbishment that will include a new pit building and main grandstand.
“It is great news to announce the extension of the Hungarian Grand Prix for an additional five years as we return for another action-packed weekend at the Hungaroring," said F1 CEO Stefano Domenicali.
"It is a very special circuit next to the incredible city of Budapest and one all of the drivers and our fans look forward to on the calendar.
"To see the commitment from the promoter in Hungary to develop the facilities and further enhance the experience for fans is another important step and something we want to see all our events doing in order to continue to improve and make our races even better.”
Hungaroring CEO and President Zsolt Gyulay added: “We are proud and honoured to have agreed this contract extension.
"Given the astonishing rise in F1’s global popularity, which now sees more venues than ever before competing to join the calendar, today’s signing marks a hugely significant achievement for us.
"Fittingly, the updates to our famous circuit - which include renovations to our Main Paddock Building, Main Grandstand and Spectator Zones - are expected to be completed by 2026.
"It will be a source of great satisfaction to host the teams and fans, who will always be our main priority, at a world-class venue that will reflect the high standards you come to expect for an F1 race weekend.
"My colleagues and I began work on this significant development project eight years ago and today’s announcement acts as the crowning accomplishment for our collective efforts.
"I would therefore like to thank everyone involved in getting us to this point today and look forward to many more years of premium F1 racing at the Hungaroring."