Roughly 18 months after going bankrupt, being put up for sale (which prompted rumors that Formula 1 supremo Bernie Ecclestone would buy it), the Nürburgring is finally very close to having a new owner. While the final contracts reportedly aren't signed yet, German business magazine Wirtschaftswoche indicates that American investment group HIG Capital, British investor Meyrick Cox and a German named Markus Graf Oeynhausen-Sierstorpff are buying the track for 60 million to 70 million euros ($83.2 million to $97 million).
HIG is reported to have purchased the essential parts of the track, which according to the magazine includes both the grand prix course and the 20km historic course used by tourist drivers, plus the hotel and amusement park. Whether it's also buying the track's museum isn't known yet.
According to Wirtschaftswoche, track administrator Jens Lieser says that there's still no final decision on one or more buyers for the circuit, but he reportedly acknowledges that the investor process is well underway. Even without the ownership being official yet, Reuters reports that HIG has already registered itself as the owner of some of the track's assets with the German Federal Cartel Authority.
Unfortunately, the future of F1 racing there is not assured, and Ecclestone's machinations are already at work. He told Reuters that the future of Formula 1 races at the 'Ring "depends who buys it" and suggested that he is working with Hockenheim to hold a race there every year. Currently, the two tracks alternate which hosts the German Grand Prix. While Ecclestone was rumored to buy the track multiple times, a recent report indicated that he was not among the highest bidders.
Autoblog attempted to contact HIG for more details, but it had no comment. We think the company needs to box up its new purchase and ship it over to these shores as soon as possible so that we can have some fun.
HIG is reported to have purchased the essential parts of the track, which according to the magazine includes both the grand prix course and the 20km historic course used by tourist drivers, plus the hotel and amusement park. Whether it's also buying the track's museum isn't known yet.
According to Wirtschaftswoche, track administrator Jens Lieser says that there's still no final decision on one or more buyers for the circuit, but he reportedly acknowledges that the investor process is well underway. Even without the ownership being official yet, Reuters reports that HIG has already registered itself as the owner of some of the track's assets with the German Federal Cartel Authority.
Unfortunately, the future of F1 racing there is not assured, and Ecclestone's machinations are already at work. He told Reuters that the future of Formula 1 races at the 'Ring "depends who buys it" and suggested that he is working with Hockenheim to hold a race there every year. Currently, the two tracks alternate which hosts the German Grand Prix. While Ecclestone was rumored to buy the track multiple times, a recent report indicated that he was not among the highest bidders.
Autoblog attempted to contact HIG for more details, but it had no comment. We think the company needs to box up its new purchase and ship it over to these shores as soon as possible so that we can have some fun.
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