For the past 18 months , the legendary Nürburgring track in Germany has been in serious financial trouble, in no small part thanks to a series of disastrous investments that saw high-priced housing and a theme park built at the track. Due to that, the ‘Ring is rumoured to be obtained by a new proprietor with a report suggesting that it will be bought by a U.S. financial investor HIG Capital.
Although the final contracts haven’t been signed yet, the firm claimed that they have registered the acquisition of substantial parts of Nürburgring assets with the German competition authority paying no more than 60-70 million Euros for the famous race track. The assets include the circuit, the nearby hotels and adjacent amusement park which features a roller-coaster designed to mimic an F1 car. Whether it’s also acquiring the track’s museum isn’t known yet.
However, the future of Formula One racing at the Nürburgring track is currently not assured. Ecclestone told Reuters that the future of F1 races at the ‘Ring “depends who buys it” and is in talk with Hockenheim to hold a race there every year. Whilst Ecclestone was rumoured to buy the track multiple times, a latest report indicated that he was not among the highest bidders.
Source: Wirtschaftswoche, Reuters.
