Hungarian GP in doubt beyond 2012

(GMM) The Hungarian grand prix beyond 2012 is in doubt, reports out of the central European country on Wednesday said.

The economics and political daily Vilaggazdasag claims the Republic's government is questioning its commitment to the event, despite the apparent extension of the race deal last year for the period 2012-2016.

The newspaper said it has seen material showing that finance and local government ministries no longer support the grand prix due to a lack of central funds and the recent weakening of the Hungarian currency.

Cancelling the race prior to 2012 is not feasible, reportedly because the race promotion fees until then are payable whether the events are staged or not.

The Hungaroring, in Mogyorod about a thirty minute drive from historic Budapest, hosted its first grand prix in 1986, the first ever behind the Iron Curtain.