Sold! Historic Nurburgring finds new owner
The historic Nurburgring has been sold for 77 million Euro to a Dusseldorf-based German firm by the name of Capricorn Development. The company will take over the 'Ring from January 1, 2015. Capricorn Development took ownership of the track by securing a last minute bid of the winning amount, beating HIG Capital's bid offering 60-70 million Euro for the Green Hell.
The Nurburgring has finally found a buyer in the form of Capricorn Development
At the press conference announcing the sale, Capricorn Development said that it plans to invest a further 25 million Euro in developing and maintaining the 'Ring. Motorsport will continue to be the main activity on the track and its doors will remain open to the general public. The new owners already have an office at the track and operate a business of supplying lightweight parts to automakers and racing teams. They also intend to bring more industry into the region by building a technology centre there.
Nicknamed the 'Green Hell' the track is one of the most iconic and dangerous circuits in the world
Formula 1's head honcho Bernie Ecclestone who was also one of the bidders for the German track, when asked about the future of Formula 1 at the famed 'Ring merely stated "it depends on who buys it". Currently the German Grand Prix alternates between the tracks of Nurburgring and Hockenheim. But with the Capricorn group taking over, and declaring that they believe F1 is the pinnacle of motor racing that can take place at the Nurburgring, there is every chance that F1 might find a more permanent home at the 'Ring.
As of now the Nurburgring seems to be in good hands and its legacy will live on. Whether or not the track will get better with time remains to be seen. Time will tell.