The government of the German state of Rhineland-Palatinate is set to make hundreds of million of euros available to the Nürburgring. This will guarantee that a loan be partially paid, making it possible for the Nürburgring to continue to operate.

According to Germany's Deutsche Welle, officials in the West German state came to the decision to keep the track afloat during a special meeting of the state legislature's budget and finance committee. The loan, in the amount of €254 million ($312 million) enables Nürburgring GmbH, who operates the track, to service a €330 million loan ($402M). That payment will allow the track to keep operating.

According to the report, several members of German government pushed for the delay of this move, citing that such a maneuver could be illegal under European law.

The wold-famous racetrack has fallen on hard times, and this bailout appears to be essential in its bid to stay afloat. The original loan taken out by the track's investors was to build a supporting mall and a roller coaster. Neither of these attractions has proven successful, leaving investors to plead for a bailout from the EU.

No word on how this will effect Formula One boss Bernie Ecclestone and his commitment to "do everything" to save the 'Ring. If still committed, it likely just became a $312 million more manageable undertaking for Bernie to do so.



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    • 1 Second Ago
  • 18 Comments
      GasMan
      • 2 Years Ago
      Loan guarantee, people. That means the government is a co-signer of the loan to whoever buys it. It does not mean the government is spending that money (unless it all goes pear shaped again) and they still have to find someone to purchase the assets and come up with a viable business plan to make it profitable. Let's hope some scheister (Bernie??) doesn't take the loans, siphon off the money, and 3 years from now we are right back in the same place.
        The_Mell
        • 2 Years Ago
        @GasMan
        Hope? 3 years ago, in summer 2009, our finance minister in Rhineland-Palatinate resigned after project "Nürburgring 2009" had cost up to 350 million euro of tax money. That was way above the planned budget and of those 50%+ private investment you could see more or less 0%. So sorry if i cannot be optimistic...
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      Eta Carinae
      • 2 Years Ago
      I wonder if people are going to start hating on the 'ring because it is taking a loan from the government, start calling it "loaneRING'.......umm sound familiar
        The_Mell
        • 2 Years Ago
        @Eta Carinae
        No, not the RIng, but the investor(s) and our politicians. 250 million € would be (something around) 5% of the education budget here in Rhineland-Palatinate...
      rockandrai
      • 2 Years Ago
      Lance, that is EXACTLY what is going to happen. As long as it still continues to operate, I don't care. tinyurl.com/783pflv
      Codeman
      • 2 Years Ago
      Good, I hope they can get their **** together without requiring "help" from that crook Bernie.
        Bloomsbury
        • 2 Years Ago
        @Codeman
        The current owners don't seem to be shining examples of businessmen themselves. At least Bernie actually knows who to run something profitably. The 'ring would be best sold to a new owner who can invest fresh cash and right all the wrongs. I don't really see how they can currently turn things around by taking on more debt. The problem isn't actually the track itself, but all the other **** that got built, cost a fortune and can't seem to turn a profit. The way I see it... if the likes of Starwood, Hilton, Marriot, Hyatt etc. didn't think it was a good idea to build hotels there, it probably wasn't the best idea to build a massive one that isn't particularly good.
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