Hoovey689

iTrader: (16)

German automakers bidding on Nürburgring?

That the Nürburgring is in trouble should come as no surprise. The famed German circuit went bankrupt over a year ago, although it has remained open while the government bodies that own it have entertained bids from prospective new owners. That didn't seem to be going anywhere, particularly considering the massive debt which the circuit (and activities surrounding it) have accrued, but the latest reports suggest that one of Germany's major automakers could come to the rescue.

Although there is no intel on which carmaker – Daimler, BMW or the Volkswagen Group – might be most interested, whichever company would step up would be required to keep it open to both the public and other automakers, many of which use the 13-mile Nordschleife and its 73 varying corners as a test track.

The move would not be unprecedented, as many world-class racing circuits are owned by automakers. Suzuka and Motegi belong to Honda, Fuji to Toyota, Ferrari owns Mugello and the Nardo test track in Italy was recently bought by Porsche, to name just a few.

ADAC (Germany's automobile club) is also said to be a potential bidder on the complex, which includes the Norschleife, the grand prix circuit and a motorsport-themed amusement park whose opening has been delayed for four years now.

http://www.autoblog.com/2013/11/04/g...n-nurburgring/

I8ABMR

I knew this would happen sooner or later but if they have to still let the other auto makers use it then what is the use. Like the housing market the value of the track was inflated. When the new owners bought it and realized they were lied to they are now thinking that the track could go into financial ruin ....again

G Star

iTrader: (2)

Is the N RING currently publicly or privately owned? I'd imagine under the wing of one of the big automakers that they would find a way to generate some more money out of it.

Hoovey689

iTrader: (16)

German automobile club ADAC to buy Nürburgring

Germany's famed Nürburgring racetrack has needed a new owner for some time. Under local government control, the Ring has fallen some 400 million euros into public debt, forcing it into bankruptcy while still keeping its gates open.

Last week we reported on the prospect that one of Germany's major automakers could take over the complex, and noted that ADAC - Europe's largest automobile club and one of the largest in the world - was also in contention. And now it seems that ADAC is preparing to take it over.

The news comes from Germany's Auto Motor und Sport, which reports that ADAC has submitted a non-binding offer to purchase the Nürburgring. The deal between ADAC and the Rhineland state government would see the club take over the circuit (presumably both the Nordschleife and the grand prix track) but not some of its associated facilities, like the amusement park and shopping mall.

Although most major racetracks are privately owned, the notion of an automobile club controlling one is not unprecedented - particularly in Europe. For example, the Silverstone circuit is owned by the British Racing Drivers' Club, and the Circuit de la Sarthe where Le Mans is held is owned by France's largest motorist association, the Automobile Club de l'Ouest.

http://www.autoblog.com/2013/11/13/g...s-nurburgring/

gengar

You might be thinking of some other track or property.....? As far as I know, the Nürburgring is and has been essentially state-owned and controlled for quite some time now (the company Nürburgring GmbH is 90% owned by the state government that the Nürburgring is in).

The reason for the debt wasn't some property value boom like the housing market; in fact, it had nothing to do with the racetrack itself at all. It's that the government tried to make the Nürburgring into a Disneyland-style vacation and themed resort, allegedly concocting fake overstated visitor numbers to garner funding and then engaging in crony capitalism to line the pockets of their friends in the construction/development process, according to German TV reports.

As usual, leave it up to government to waste taxpayer money and ruin something historical and legendary in the process. ADAC coming in to buy it is fantastic news, as they run all the endurance events like VLNs anyway.

Hoovey689

iTrader: (16)

Seriously? Wow that really pisses me off hah. The Nürburgring is chalk full of history and pedigree. A place for drivers and automakers to test their metal (pun intended hah). A place to crown champions. Not some two bit themed resort

gengar

Yeah, you can read some stuff about it here: http://savethering.org/

There are even some links to subtitled German TV news reports and stuff like that about it. It's really sad, I agree.

LexFather

This is correct…the tourists have not lined up...

Blackraven

To be honest, I have nothing against it (nor do I have anything against the theme park).

But for four years, the ride was not able to operate due to certain minor accidents that injured some people back in 2009.

Thankfully though, they were able to start operating the ride just this Halloween.

P.S.
By the way, the total cost of the "RING RACER" roller coaster is priced at 12.3 Million Euros

Hoovey689

iTrader: (16)

There's actually a theme park?!

This I did not know

Learn something new everyday