Nürburgring Track Goes Bankrupt – EU Not Planning To Help


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Nürburgring goes up for sale

Bidding for the Nürburgring begun this week, with the race track and its associated facilities expected to sell for around £100 million.

Constructed in 1927, the ‘Green Hell’ fell into bankruptcy last July and the track has been in need of a buyer since then. The new owner will take over 300 employees and 12.8 miles of tarmac famed for its danger and risk.

The 90-year old Nordschleife has the possibility of being sold to more than one investor, who would purchase the Nürburgring free from the £338 million worth of debt that caused the previous government-supported owners to file for bankruptcy. Currently the Nürburgring has a yearly turnover, estimated at around £50.7 million.

Unique in its appeal, the Nürburgring sale has drawn protesters who voiced their opposition to the track’s private sale. Many of those protesters would rather that the Nürburgring went back into public ownership as it had been previously, securing the Nordschleife as a public facility rather than a private acquisition.

Formal interest in the Nürburgring must be submitted by 12 June, indicating that the track could find new owners by the end of the summer.

Nürburgring goes up for sale | Autocar
 
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Buying Nürburgring would be impractical: Ecclestone

Following the collapse of track operator Nürburgring GmbH back in May, rumours surfaced that billionaire Ecclestone was in the running to buy the track. He even went so far as to tell a German newspaper that buying the rights to the track would "mean the German Grand Prix is secure in the future".

However, the 82-year-old has since denied that he has put in a bid for the track before the deadline of 12 June. He told another German newspaper that it would be impractical for him to take on the rights to the ’Ring.

Ecclestone isn't the only private party alleged to be interested in acquiring the famous track. Red Bull boss Dietrich Mateschitz is reported to have submitted a joint bid with German association ADAC.

Earlier this year it was revealed that bids to buy the circuit would have to be in the region of £112 million.

Buying Nürburgring would be impractical: Ecclestone | News | Autocar India
 
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Nurburgring For Sale, Automakers Among Bidders

The Nürburgring racetrack in Germany is hallowed ground in the automotive world, but after going bankrupt last year it’s now up for sale and looking for a new owner. A Bloomberg report says that bids are currently being assessed for the track and its adjacent amusement park which has yet to open.
The Nürburgring announced its bankruptcy in July 2012, although the track did not close down. Now, carmakers are reportedly in the mix among the bidders looking to purchase the track. Automakers have bought racetracks before, like Porsche with the Nardo Ring in Italy and Mazda with California’s Laguna Seca, and the Nürburgring could potentially be profitable for a car company thanks to its average annual revenue of between 50 and 60 million euros and average profits of six to eight million euros per year. The German ADAC, an automobile club, is also reportedly interested in bidding.
Any buyer would be required by law to keep the track open to the public and the automotive industry. The Nürburgring is currently open to the public most of the year for a €26 fee per lap, and many automakers use the track for testing and engineering work. For a certain number of days per year, the track is opened exclusively for carmakers for secretive testing days of future models.
The 13.1-mile Nürburgring circuit is one of the most challenging racetracks in the world, with 73 corners, uneven surfaces, and wild elevation changes that push cars to their limits. We certainly hope that one of these supposed bidders will come through to keep this important piece of automotive history alive.


Read more: Report: Nurburgring For Sale, Automakers Among Bidders - Rumor Central
 
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