Hungary to host event until 2011

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from f1central.net:

Hungary will host Bernie Ecclestone's grand prix circus for at least seven more years, prime minister Peter Medgyessy revealed.

He said after last Sunday's Formula One race at the Hungaroring, 19kms north of Budapest, that a new agreement has been signed.

Medgyessy said Ecclestone signed a five-year extension to the current contract, which guaranteed a race until 2006, on Sunday.

Media reports claimed the government contribution to this year's Hungarian Grand Prix was $13 million, down on 2003's $15 million.

News of Hungary's contract extension is unlikely to go down well with the Formula One fraternity who frowned on a 'boring' race.

London's 'The Times' headlined a story on Sunday evening as claiming Michael Schumacher left F1 'yawning' near Budapest.

''Sunday's race sounded a thousand alarm bells,'' added the Independent, ''but ... only those outside (F1) can hear them.''

Circuit spokesman Sandor David claimed 160,000 spectators, about the same as last year, attended last weekend's grand prix event.

The twisty Hungaroring is situated at Mogyorod.