German auto parts company Capricorn Group has bought the Nurburgring for more than €100 million (£83m). The company has had a factory within the ‘Ring since 2002, and is investing €25 million (£21m) into the development of the circuit.
For that €100 million, Capricorn takes control of the track and all associated track days and motor sport events, music events, tourist spots and hotels. In a move that will no doubt be celebrated, it intends to get rid of that money pit roller coaster.
An exploded view of the Carrera engine Capricorn manufactures
Capricorn has its roots in motor sport, developing innovative technologies for use in automotive and aviation sectors, and it intends to expand itself with the purchase of the ‘Ring. The creation of an ‘automotive technology cluster’ at the circuit will create new jobs, and by embedding itself within universities and colleges it hopes to push the region’s position as a leader of automotive development.
Capricorn will officially be handed the keys on January 1st 2015.