Before the 2016 season, the circuit was resurfaced for the first time since it was built in 1985, and was also given new kerbs.

Modifications to some corners and run-off areas are set to be implemented this October as part of a major modernisation of the track, which will consist of three phases.

The first of these includes installing a new grandstand and TV commentator booths, followed by the construction of a new main pit building and garages (pictured below).

The final phase will consist of a new visitor centre, a museum and facilities for other services.

Hungaroring upgrade Photo by: Hungaroring

The track changes are aimed at making the track eligible to host MotoGP races, with Hungaroring Chief Executive Officer Zsolt Gyulay confirming the venue is planning talks with the FIM on this subject.

Gyulay said in an interview with Hungarian TV channel M1: "During the construction, we will be in talks with the FIM in order to make the track eligible for MotoGP races.

"When we are in the planning process, and if there is a will from all sides, we need to turn the Hungaroring into a track, mainly with changes to turns and escape areas, which is eligible for motorcycle races.

"[To have MotoGP] the Hungarian government has to be on board, and we believe they are."

MotoGP was previously set to hold a Hungarian race at the Balatonring in 2009, but the project ran into financial difficulties and the track was never completed.

Prior to that, the Hungaroring also hosted two motorcycle grand prix events in 1990 and 1992, before dropping off the calendar.

F1 race in no danger

The Hungaroring has been the location for the Hungarian F1 Grand Prix since the track was opened in 1986. In 2016, the circuit extended its previous contract, which lasted until 2021, by a further five years, guaranteeing its place on the F1 calendar up to 2026.

Gyulay said signing a new deal was important from a financial point of view, and also because of the recent changes in F1's leadership amid Liberty Media's buyout of the sport.

"It was a very important step because, in terms of costs, the new contract was signed on more favourable condition," he said. "Because we extended our contract until 2026, the hosting fee will not be as high.

"Having a contract until 2026 also gives us safety because of the ongoing changes in the F1 ownership, which could be dangerous for European tracks that traditionally pay less than new tracks or the ones in the Far East. In that regard we are safe, and that is good news."

Apart from F1, the Hungaroring also hosted WTCC, DTM, Blancpain GT and European Truck races last year, while a Ferrari Challenge round is set to be added to its calendar in 2017.