The Nürburgring has been officially sold, and it wasn't to HIG Capital and its group of investors as we had previously expected. Instead, Düsseldorf-based Capricorn Development put in a last-minute bid to buy the track for 77 million euros ($106.8 million), and it's promising to invest a further 25 million euros ($34.7 million) into the historic racecourse. The company will take full ownership of the 'Ring on January 1, 2015.

Capricorn is saying all of the right things about its plans for the Green Hell. During the press conference that announced the sale, it said that motorsport will be the focal point of its ownership, and the track will remain open to the public. It wants to work with companies to create a technology center there and bring more industry to the Nürburgring region. The company already has an office at the 'Ring that supplies lightweight components to automakers and racing teams, according to RP Online.

According to Piston Heads, which attended the press conference, Capricorn's bid arrived with minutes to spare. It beat HIG Capital, which reportedly offered between 60 million and 70 million euros ($83.2 million to $97 million), because of the promise to bring new business to the area.

The major lingering question about the track's future is whether Formula 1 can remain at the grand prix course. Bernie Ecclestone previously threatened to hold future German Grands Prix only at Hockenheim. While it's too early to say for sure, Capricorn says that F1 is the pinnacle of the Nürburgring, according to Rhein Zeitung. At least we know it's valued.

After a year of questions, one of world's greatest racetracks will remain in German hands. If Capricorn stays true to its word, then it looks like the tracks legacy is only going to get better. The 'Ring lives!

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    • 1 Second Ago
      Andre Neves
      • 1 Year Ago
      $100M seems low for something so big and with so much history. I'm guessing running costs are ridiculous though.
      • 1 Year Ago
      I would have expected 8 to 10 times that.
      • 1 Year Ago
      Congrats to the German investors winning bid on the test track over the Americans. Today the EU is fighting for the naming right of their cheeses like Feta,Mozzarella, and Limberger from the U.S. Something smells here, but good luck on their venture.
      • 1 Year Ago
      thk god no investment group! almost the perfect buyer imho, long live the RING!
      • 1 Year Ago
      Thats it?? 100M Euros??...why did it take this long ?
      Andrew Pappas
      • 1 Year Ago
      The previous owners tried turning the track into Euro Disney...and it was just as successful.
      The Rookie
      • 1 Year Ago
      Does anyone know how much the Nürburgring brings in a year?
        • 1 Year Ago
        @The Rookie
        I remenber reading a article a while back where they said the ring was making about 60million annual revenue and underlying profits of 6-8 million.
          • 1 Year Ago
          Wrong? Nothing. It's perfectly normal and inside 50th percentile. What once used to be 100 IQ, today is about 70 if individual was to be compared with median of 50 years ago.
          • 1 Year Ago
          Somebody really downvoted a "thank you" post? WTH is wrong with you?
      • 1 Year Ago
      Who cares, I still have this track on Gran Turismo even if it folds. j/k :P
      • 1 Year Ago
      Now , When can I run my 1400 Kaw around that baby
      • 1 Year Ago
      Banks, funds, institutions have ridiculous huge sums of money (inflated money), and saw no reason why it shouldn't been bought sooner. Glad it'll continue on.
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