The Nurburgring looks to have been saved from bankruptcy with a deal to buy the beleaguered track concluded with parts maker Capricorn Group paying £83.5 million.
The Nurburgring complex in Germany – home to many a car makers test centre and beloved of wannabe racers – has been saved from bankruptcy with an £83.5 million deal.
German parts maker Capricorn Group have stumped up over £83.5 million to buy the Nurburgring complex which includes the famous 13 mile North Loop Track as well as the Grand Prix Circuit and have committed to spending and additional £21 million to further develop and improve the site.
The Nurburgring track fell in to bankruptcy back in 2012, and it looked for a while as if the whole thing could be closed down, but bids from Capricorn Group and one other have saved the day, with Capricorn winning out with the bigger bid.
Robertino Wild, partner at Capricorn Group, said:
As an enthusiastic motorsport fan, the Nurburgring has always been a passion of mine.
We have identified the enormous potential of this unique race venue and would like to optimise the existing structures, but above all turn the vision of an automotive technology cluster into a reality.
It seems Capricorn Group will take over the Nurburgring from January 2015 and will continue to allow the public to pay and drive.