Photo: Nurburgring
Ladies and gentlemen racers, the Nurburgring has finally found a new owner. The German temple of laptimes has been acquired by Düsseldorf-based Capricorn Development, which managed to come with a last-minute bid, stealing the show from US private equity company HIG Capital.
Capricorn Development told Piston Heads that they paid EUR 77 million (US$ 106.8) for the ‘Ring, while HIG Capital has offered something in the region of EUR 60 - 70 million (US$ 83.2 - US$97 million). Despite this, it seems Capricorn’s most important asset in the race was the promise to further develop the business in the area.
First of all, the Nurburgring will remain focused on its motorsport activities, while the public will still be able to lap the track. What’s more, Capricorn is seeking partners to build a technology center at the ‘Ring, as part of an effort to boost the local business.
Speaking of racing, the big question that remains unanswered is whether the Nurburgring has a Formula 1 future. At the moment it is too early to what the Ring and the Hockenheim are set to do in the battle for F1.
Regardless of that, we’re more than happy the Nurburgring has finally ended its financial fiasco. Still, we’ll have to wait until January 1st, 2015 in order for Capricorn Development to take full control of the ‘Ring.
Via: Pistonheads
First of all, the Nurburgring will remain focused on its motorsport activities, while the public will still be able to lap the track. What’s more, Capricorn is seeking partners to build a technology center at the ‘Ring, as part of an effort to boost the local business.
Speaking of racing, the big question that remains unanswered is whether the Nurburgring has a Formula 1 future. At the moment it is too early to what the Ring and the Hockenheim are set to do in the battle for F1.
Regardless of that, we’re more than happy the Nurburgring has finally ended its financial fiasco. Still, we’ll have to wait until January 1st, 2015 in order for Capricorn Development to take full control of the ‘Ring.
Via: Pistonheads
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