# Balásy Gyula financial dealings in Hungary > Live situation record from CLSTR: https://clstr.news/situations/balsy-gyula-asset-offer-to-hungarian-state > Updated: 2026-08-19T16:27:55.000Z. Sources: 32. Developments: 7. In mid‑June 2026 Gyula Balásy offered four of his companies (Lounge Design Kft., New Land Media Kft., Lounge Event Kft., Visual Europe Zrt.) together with holdings in the Prime Tech, Prime Peak and Prime Target funds and his Euronews share to the Hungarian state. Prime Minister Péter Magyar declined the proposal, noting the firms already possessed substantial reserves and contracts. In early July the National Event Organising Agency signed a net 1.64 billion‑forint framework with Lounge Event Kft. to run the 2026 Champions League final in Budapest. The agreement was split into preparatory and execution phases, but suppliers demanded advance payments, creating a 300 million‑forint shortfall that the government covered. Additional state outlays included 43 million for pitch work and 159.2 million for lighting upgrades. The firms’ accounts were later frozen and they were barred from future procurement. Transparency International’s July 16 report revealed that the Prime Minister’s Office had paid Balásy‑linked firms far above market rates for a logo, an animation, a countdown widget and TikTok videos, citing hourly fees of 215 000 forints for animators and 525 000 forints per day for cinematographers, with specialist hours far exceeding typical usage. On 30 July the dissolved Sovereignty Protection Office awarded communication contracts worth 3.679 billion forints to the Lounge Group and New Land Media, covering community‑media videos, documentaries, podcasts, event documentation, image films and book publishing, despite the office’s formal merger into the Ministry of Justice. On 6 August the Prime Minister’s Office terminated its framework contract with Lounge Event Kft. following an enforcement proceeding launched on 8 July. This termination was part of a broader review of state contracts under the new administration, which also saw the cancellation of agreements with New Land Media Kft. and Lounge Design Kft. ## Claims - The Szuverenitásvédelmi Hivatal signed communication contracts worth 3.679 bn HUF with companies linked to Balásy Gyula. (corroborated by 3 sources) - The contracts were with the Lounge Group and New Land Media Kft. (corroborated by 3 sources) - Over 336 m HUF was spent on short community‑media videos. (corroborated by 2 sources) - Approximately 336 m HUF was allocated for documentary films. (corroborated by 2 sources) - 289 m HUF was earmarked for podcast production and 249 m HUF for podcast promotion. (corroborated by 2 sources) - Around 270 m HUF was spent on book publishing and related events. (single source) - Parliament dissolved the office on 15 July 2024 and merged it into the Ministry of Justice. (single source) - After its dissolution, the office’s online content was removed from social‑media platforms. (single source) ## Timeline ### 2026-08-19: Hungarian public media terminates contracts with Balásy-owned companies Hungary’s public media has terminated contracts with Gyula Balásy’s companies, New Land Media and Lounge Design, aiming to save nearly 500 million forints and eliminate previous propaganda-related spending. 2 sources. https://clstr.news/cluster/hungarian-public-media-terminates-contracts-with-balsy-owned-companies ### 2026-08-06: Balásy Gyula's Lounge Event contract terminated by Hungarian Prime Minister's Office Hungary’s Prime Minister’s Office ended its contract with Balásy Gyula’s Lounge Event after an enforcement case and lack of disclosure, part of a wider review of state contracts. 20 sources. https://clstr.news/cluster/hungarian-defence-minister-romulus-ruszinszendi-files-complaint-on-800-millionforint-contracts ### 2026-07-30: Hungary's Sovereignty Protection Office spent 3.7 bn HUF on Balásy Gyula firms Hungary’s Sovereignty Protection Office spent about 3.7 bn HUF on communication contracts with Balásy Gyula’s Lounge Group and New Land Media, covering videos, documentaries, podcasts and events before being ax 6 sources. https://clstr.news/cluster/hungarys-sovereignty-protection-office-spent-37-bn-huf-on-balsy-gyula-firms ### 2026-07-16: Hungary Pays Excessive Fees to Balásy Gyula‑Linked Firms on State Contracts Hungary paid over 20 million forints to companies linked to Balásy Gyula for state projects at rates far above market levels, prompting a criminal probe. 3 sources. https://clstr.news/cluster/hungary-pays-excessive-fees-to-balsy-gyulalinked-firms-on-state-contracts ### 2026-07-09: Balásy Gyula's firm awarded 1.64 billion‑forint contract for Budapest Champions League final Balásy Gyula's Lounge Event received a 1.64 bn HUF contract to organise Budapest’s Champions League final, but payment delays, a 300 m HUF shortfall and a money‑laundering probe led to a government bailout and 2 sources. https://clstr.news/cluster/balsy-gyulas-firm-awarded-164-billionforint-contract-for-budapest-champions-league-final ### 2026-06-15: Balásy Gyula offers billions of assets to Hungarian state, proposal rejected Billionaire Balásy Gyula offered companies and private‑equity stakes worth billions to Hungary’s state; Prime Minister Magyar Péter rejected the proposal amid a police probe into his businesses. 3 sources. https://clstr.news/cluster/balsy-gyula-offers-billions-of-assets-to-hungarian-state-proposal-rejected ### 2026-06-15: Hungarian media mogul Balásy Gyula offers companies and Euronews stake to the state Balásy Gyula offered four firms, three private‑equity fund stakes and his Euronews share to Hungary’s government, which refused the proposal. 2 sources. https://clstr.news/cluster/hungarian-media-mogul-balsy-gyula-offers-companies-and-euronews-stake-to-the-state --- Cite as: Balásy Gyula financial dealings in Hungary. CLSTR, https://clstr.news/situations/balsy-gyula-asset-offer-to-hungarian-state