Nürburgring Track Goes Bankrupt – EU Not Planning To Help


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The Nürburgring is officially broke. According to various German sources, the only chance the owners of the 'Ring have to fend off bankruptcy is if the track gets 13 million euros of new life injected into it. Problem is, state officials have said it's not going to happen.

In other words, the Nürburgring will go into administration and its future will at least in part be decided in court. Also up for debate will be the legality of 524 million euros worth of funding that the state has already pumped into the track, an amusement park with hotels and a shopping mall that make up the local attraction.

Reports indicate that the rest of 2012 will proceed as planned at the 'Ring. After that, it's anybody's guess what will happen to the famous German racetrack.

Will any Auto manufacturer buy it?
 
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Re: Nürburgring goes bust, EU not planning to help

Its just too long a track .
I was wondering how it was still being operational.
But top gear had mentioned that many supercar manufacturers have their testing facilities at that circuit. So it is going to be a long court battle.
 
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Re: Nürburgring goes bust, EU not planning to help

Its just too long a track .
I was wondering how it was still being operational.
But top gear had mentioned that many supercar manufacturers have their testing facilities at that circuit. So it is going to be a long court battle.
It's considered as the ultimate track to test the handling of the car, not only supercar's even regular car's get's tested their.

I just wonder the track is open for public too, and manufacturers flocking in almost through out the year how can they go bankrupt? Does anybody from our Congress or BJP party work in there at higher management level?[lol]
 
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Re: Nürburgring Track Goes Bankrupt – EU Not Planning To Help

Bernie Ecclestone has vowed to do what he can to keep the Nurburgring on the F1 calendar.
The famous circuit has commenced an insolvency process, raising the danger that from now on the German grand prix will be held only once every two years at Hockenheim.
But German reports on Wednesday said F1's chief executive has offered to waive his usual race sanctioning fee for the Nurburgring in 2013, and in return "bear all costs but also claim all revenues".
A spokesman for the Nurburgring confirmed the accuracy of those reports.
And the Rhein Zeitung newspaper quoted a circuit official as warning that there is only "a small tine window" for authorities to approve the deal.
German reports said circuit officials Kai Richter and Jorg Lindner negotiated the deal with Ecclestone in London last Thursday.
"We will do everything that is commercially feasible to keep it (the German grand prix on the calendar) -- hopefully in Hockenheim and the Nurburgring," 81-year-old Ecclestone is quoted by Auto Bild.
But the Briton also acknowledged the risk that the Nurburgring will drop off the calendar.
"If it's not possible, we will talk to Hockenheim to see if they can do it," said Ecclestone.



Read more: Ecclestone vows to 'do everything' to help Nurburgring
 
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Re: Nürburgring Track Goes Bankrupt – EU Not Planning To Help

Bernie Ecclestone was apparently quite serious when he said he would "do everything" to save the troubled Nürburgring. In fact, according to a new report from Bloomberg Businessweek, the megalomaniacal Formula One boss might just buy the track outright. That'd certainly be a quick answer to the 'Ring's financial troubles.

That said, Bloomberg reports that Ecclestone has no plans to organize a Formula One race on the Nürburgring at his own expense. Furthermore, Ecclestone has declined to comment on pricing or conditions for the alleged agreement.

The Nürburgring's severe debt crisis is hardly news – the legendary track has been going through hard times for a while now, despite efforts to boost revenue by building a roller coaster and shopping mall on the premises. The European Union has refused to bail out the ailing track, as well, specifically because it has bigger fish to fry at the moment (you know, like the declining economies of many of its countries).

A timetable for a potential sale of the Nürburgring to Ecclestone has not been disclosed.

Ecclestone may buy Nürburgring outright
 
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Re: Nürburgring Track Goes Bankrupt – EU Not Planning To Help

The government of the German state of Rhineland-Palatinate is set to make hundreds of million of euros available to the Nürburgring. This will guarantee that a loan be partially paid, making it possible for the Nürburgring to continue to operate.

According to Germany's Deutsche Welle, officials in the West German state came to the decision to keep the track afloat during a special meeting of the state legislature's budget and finance committee. The loan, in the amount of €254 million ($312 million) enables Nürburgring GmbH, who operates the track, to service a €330 million loan ($402M). That payment will allow the track to keep operating.

According to the report, several members of German government pushed for the delay of this move, citing that such a maneuver could be illegal under European law.

The wold-famous racetrack has fallen on hard times, and this bailout appears to be essential in its bid to stay afloat. The original loan taken out by the track's investors was to build a supporting mall and a roller coaster. Neither of these attractions has proven successful, leaving investors to plead for a bailout from the EU.

No word on how this will effect Formula One boss Bernie Ecclestone and his commitment to "do everything" to save the 'Ring. If still committed, it likely just became a $312 million more manageable undertaking for Bernie to do so.

German state to float $312M loan guarantee for Nürburgring
 
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A Nurburgring official has admitted the German circuit cannot afford to host formula one next year.
As per the existing German GP alternating scheme with Hockenheim, the Nurburgring was due to return to the sport's calendar in 2013.
But the venue has succumbed to its financial problems, recently commencing an insolvency process.
The future looked brighter last week, when the governing Rhineland-Palatinate state agreed to guarantee a loan so that the Nurburgring can service its debts.
Nurburgring Automotive GmbH (NAG) chief Jorg Lindner said: "I am very optimistic that formula one will be going to the Nurburgring next year."
He said talks with Bernie Ecclestone would take place over the summer.
"We don't want to lose any of the racetracks, and we need to keep the race in Germany," said F1's chief executive, Ecclestone. "We will do our best."
But the Nurburgring's development chief, Thomas Schmidt, has dealt the situation a renewed blow by revealing that Ecclestone would have to dramatically reduce or even forgo F1's race sanctioning fee.
Schmidt told DPA news agency that, in the "current situation", the Nurburgring cannot afford to pay that sort of money.
"If Ecclestone accepts an offer without this typical fee, we can certainly keep formula one," he said.
Otherwise, "We simply don't have the money", Schmidt admitted.
He said he is "confident" a solution will ultimately be found, but warned that an F1 race is "not absolutely necessary" for the Nurburgring's survival.


Read more: Nurburgring cannot afford Ecclestone's fee - official
 
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Nürburgring for sale, yours for only $165 million

If you've been wondering what to do with that $165-million stack of pennies in your bedroom, we may have an idea for you. The Nürburgring is officially up for sale, including the arena, museum, Norschleife and even the defunct roller coaster. The government-owned motorsports complex fell into bankruptcy last July, and while we heard plenty of rumors on the topic of potential buyers, the list of serious parties interested in the complex has reportedly shrunk from somewhere around 50 to a more manageable five or 10. Jens Lieser, a state-appointed liquidator told BridgetoGantry.com that there isn't "a single Oligarch or Sheik amongst them."

That's good news for fans of the 'Ring who worried some impossibly wealthy individual would turn the track into their own personal playground. But those close to the fate of the facility say that doesn't mean the Nürburgring will necessarily continue on as fans know it right now. Any private company that looks to sink their teeth into the motorsports icon will undoubtedly start by looking into ways to reduce the track's losses, and that will likely start with cutting grassroots motorsports events and nixing public driving. While those two activities make the Nürburgring an icon the world over, they don't rake in cash.

Us? We can't help but wonder if it wouldn't be wise for automakers to pool their resources and set up a joint-venture of sorts. After all, many of them have dedicated skunkworks facilities near the track for testing purposes, and if the 'Ring falls into private hands, their ability to continue to operate may be drawn into question.

Nürburgring for sale, yours for only $165 million
 
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Even i was shocked when i first read this news, moreover they have track day's for common people through out the year, and almost all the manufacturers take their new cars to test on this track.

It will be interesting to see who will come forward to buy this legendary race track.
 
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I was doing some basic math here - if all TAIgers(approx 8000 ) shell out 11.25 lakhs each , we could be Nurburgring owners [clown] Whose in ?:stupid:
 
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Re: Nürburgring Track Goes Bankrupt – EU Not Planning To Help

Aston Martin Rapide S becomes first hydrogen car to lap Nürburgring

Aston Martin has secured its place in the history books with a world first hydrogen-fuelled zero CO2 emission lap of the Nürburgring circuit in Germany.

The lap was completed on Saturday (27 April) with Aston Martin Chief Executive Officer Dr Ulrich Bez at the wheel of the prototype Aston Martin Hybrid Hydrogen Rapide S and was a perfect test run ahead of a formal record-breaking attempt at the ADAC Zurich 24 Hours of Nürburgring (N24) next month.

Aston Martin engineers were using the four-hour ADAC ACAS H&R-Cup VLN series race as a shake-down and test session ahead of the gruelling 24 hour race next month in which the Hybrid Hydrogen Rapide S will line-up alongside a world-class field of some 200+ GT cars.

Development of the ground-breaking hybrid system - created by technical partners Alset Global and pioneered by Aston Martin in the race - has exceeded expectations, leading to the historic hydrogen-only lap of the infamous 'green hell' on Saturday afternoon.

Dr Bez said: "I am incredibly proud of the Aston Martin team, and our partners Alset Global. We have written a little motorsport history with this qualifying lap as well as finishing the four hour race on hydrogen and, of course, it bodes extremely well for our participation in the 24 Hours of Nürburgring in three weeks' time.

"To have run full laps on hydrogen gas alone during the four-hour event is an exceptional 'first', and I now hope that we can stabilise the system and further improve the Rapide S so we can complete the 24-hour race on May 19 with many zero emission laps."

David King, Director of Special Projects at Aston Martin and the man leading the Hybrid Hydrogen Rapide S project, said: "This achievement should leave no one in any doubt that the system we have developed with Alset Global is a viable and exciting option for the future.

"The creation of the Hybrid Hydrogen Rapide S was, for Aston Martin, another high profile way for us to mark our centenary in 2013, and to demonstrate our engineering capabilities in the most demanding environment of a major endurance race. This is the ultimate expression of our long term strategy of using the Nürburgring 24 hour race to publicly demonstrate the abilities of our cars and our people."

When it competes next month the Hybrid Hydrogen Rapide S - based on Aston Martin's new four-door, four-seat sports car - will become the first hydrogen-powered car to compete in an international event as well as the first zero CO2 emissions sports car to complete a race pace lap at the Nürburgring 24-hour race. The car will compete in an experimental class (E1- XP) having passed rigorous technical and safety assessments by the German motorsport
authority the DMSB to be granted approval to race.

It will be able to complete full laps with zero CO2 emissions and will be refuelled after each stint with 3.5kg (circa 7.7 lb) of hydrogen as well as gasoline. Working in partnership with hydrogen experts Alset Global, Aston Martin's engineers have developed a prototype twin turbocharged 6.0-litre V12 engine that powers the Nürburgring car.

Capable of running on pure gasoline, pure gaseous hydrogen, or a blend of both, the Hybrid Hydrogen race car showcases Aston Martin's commitment to engineering innovation. In pure hydrogen mode the car emits virtually only water from the exhaust.

The Hybrid Hydrogen system comprises a hydrogen fuel rail, storage tanks and proprietary engine management system. Safety is paramount and the system includes four ultra-high strength carbon fibre tanks holding a total of 3.5kg (circa 7.7 lb) of hydrogen stored at a pressure of 350bar.

The race car is based on the new 550bhp Rapide S four-door sports car arriving at Aston Martin showrooms across the Americas in the coming weeks.

Aston Martin competes in the ADAC Zurich Nürburgring 24 Hours on May 19-20 for the eighth successive year.
Aston Martin Rapide S becomes first hydrogen car to lap Nürburgring
 
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Toyota Boss to Race at the 2013 Nürburgring 24-Hour Race

Akio Toyoda, the CEO of the world’s largest automaker, will drive a Toyota at the Nürburgring 24-hour race later this month, a company spokesman said, according to the Japan Times.
It won’t be the first time he races on the notorious Nordschleife track, as he entered the world-class event twice before, in 2007 and 2009. However, there’s a big difference between 2009 and 2013: back then, Toyoda was the vice-president of Toyota Motor Corporation while now he’s the big boss.

Known for his passion of motor sport, Toyoda will be one of a team of four driving a Toyota car at the Nürburgring circuit on May 19 and 20. At his first participation since becoming Toyota CEO in June 2009, Toyoda will not race for his own enjoyment only.

"It's not merely a private activity," the spokesman said, according a report from the AFP. "This is part of the company's effort to produce good cars by judging the performance of our production under such severe conditions."

While this is clearly a PR stunt, it’s a natural one given Toyoda’s genuine passion for racing. In 2009, his team finished the race in 87th place in a field of some 170 cars. While the car Toyoda drove four years ago was a wild Lexus LF-A supercar, this year, he may settle for something more down-to-earth. We don't know yet what model he'll get to drive, but a Toyota GT-86 should be good enough.

Toyota Boss to Race at the 2013 Nürburgring 24-Hour Race - Carscoops
 
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