Nurburgring Bidding Opened
Built in 1927, the Nurburgring track went into bankruptcy in July 2012 with about €400 million ($514 million) worth of debt. With a current yearly turnover of almost €60 million ($77 million), the facility is expected to sell for around €118 million ($152 million).
The new owner will take over the Nurburgring and its 12.8 miles of track free of debt. The track also has 300 employees. According to Autocar, formal interest must be submitted by June 12, in order for the motorsports complex to find new owners by the end of the summer.
Used as a Formula 1 track until 2011, the Nurburgring now hosts a 24 hours endurance event on its Nordschleife loop. The German track is also used as a testing facility by several automakers.
Story via Autocar