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Nürburgring officially sold for 100M euros

By Deeq on 12 Mar 2014

Attached Image The Nürburgring(A.K.A. The Green Hell) has been officially sold, and it wasn't to HIG Capital and its group of investors as we had previously expected. Instead, Düsseldorf-based Capricorn Development put in a last-minute bid to buy the track for 77 million euros (S$135.31million), and it's promising to invest a further 25 million euros (S$43.91million) into the historic racecourse. The company will take full ownership of the 'Ring on January 1, 2015.
 
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Capricorn is saying all of the right things about its plans for the Green Hell. During the press conference that announced the sale, it said that motorsport will be the focal point of its ownership, and the track will remain open to the public. It wants to work with companies to create a technology center there and bring more industry to the Nürburgring region. The company already has an office at the 'Ring that supplies lightweight components to automakers and racing teams.
 
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Capricorn's bid arrived with minutes to spare. It beat HIG Capital, which reportedly offered between 60 million and 70 million euros (S$104.4 million to S$123 million), because of the promise to bring new business to the area.
 
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The major lingering question about the track's future is whether Formula 1 can remain at the grand prix course. Bernie Ecclestone previously threatened to hold future German Grands Prix only at Hockenheim. While it's too early to say for sure, Capricorn says that F1 is the pinnacle of the Nürburgring.
 
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After a year of questions, one of world's greatest racetracks will remain in German hands. If Capricorn stays true to its word, then it looks like the tracks legacy is only going to get better. The 'Ring lives!

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Deeq
Written by Deeq
With intense love for cars and bikes since little, and passion for photography, Siddiq tries hard to bring cars to life on the screen, proving his worth as well as his passion for the job.



  • 1
Holdenutessv Mar 12 2014 05:25 PM

Great news!

but not great news to James May...

Bonafidestack Mar 13 2014 09:38 AM

"the track will remain open to the public" - Phew. I still have my chance to go down and whack one round!

tanbk Mar 13 2014 09:46 AM
$100M seems low for something so big and with so much history. I'm guessing running costs are ridiculous though.
StreetFight3r Mar 13 2014 09:48 AM
Who cares, I still have this track on Gran Turismo even if it folds. :/
StreetFight3r Mar 13 2014 09:49 AM

See you on the road bro.

 

"the track will remain open to the public" - Phew. I still have my chance to go down and whack one round!

  • 1
 
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