Germany's legendary Nurburgring racetrack goes bankrupt
Last Updated at
- 08:40 pm, July 19, 2012
The ‘Green Hell’ could well be taken over by a private firm.
Eighty-five years after it first went public – the Nurburgring Nordschleife, considered by many as the most challenging purpose-built racetrack in the world, is bankrupt. Yes, you read it right. Nurburgring Automotive GmbH, the company that manages the ‘Ring, has filed for bankruptcy.
The 14 mile-long racetrack has been financially troubled for a long time and apparently has assets worth only 126 million Euros while the amount of debt owed to the banks is well over 400 million Euros, leaving the state-owned holding company, Nürburgring GmbH, under the weight of around 280 million Euros of debt it cannot afford to pay.
What happens next at this point is anyone’s guess. Although it will be interesting to see how the current season of events would fare at the venue which perhaps could be sold to a private entity. What’s certain, though, is that the iconic circuit will continue to host trackdays and race weekends.
First Published on 08:40 pm, July 19, 2012
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