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Nurburgring sold for at least 50 million Euros

Published by on Mar 6, 2014 in Motorsport Leave a comment

Nurburgring Sale

The Nurburgring hasn’t been in its top shape in the last few years, numerous reports pointing out the financial difficulties faced by the entire facility and its future was uncertain. However, Reuters reported today that the track has been sold, but so far there’s not official, since the agency announced it based on a statement made by Bernie Ecclestone. The Formula One boss said that the offered to buy Nurburgring for 50 million, but he was outbid by another buyer, whose offer was eventually accepted. However, Ecclestone is not disappointed, since he claims the only reason he bid was to help the track’s managers get more money from the transaction. Of course, we don’t know if that’s just an excuse, but we’re gonna have to believe him.

Asked if under these circumstances there will be any future Formula One races on the Ring, Ecclestone said this depends only on the new buyer. Even though the German track is a traditional circuit in the Formula One season, the last time a Grand Prix was held on its most spectacular part, Nordschleife, was in 1976, when Niki Lauda had his famous accident (pictured in last year’s great movie “Rush“).

Following Reuters report, other media outlets released rumors about the transaction, such as German weekly Wirtschaftswoche, which claims the deal was made for around 60-70 million Euros and included the track, the Nurburgring facilities and the amusement park located in the same area which was offered by a company called HIG Capital, based in Miami. This is a lot less than Nurburgring’s owners were initially asking for, 120 million Euros, a figure which chased away many potential buyers such as the German Automobile Club (ADAC).

Source: Reuters

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