The news that the Nurburging track went bust must have come as quite a shock to many, considering the sheer amount of business it does by itself, with little or no need for extra promotion (which it got anyway).
However, it did happen, and for almost two years it remained owner-less, until now, as it’s just been acquired by the German automotive parts manufacturer Capricorn.
The firm has extensive motorsport aspirations and of its 350 employees, around 100 are working in a factory close to the famed track, supplying crankshafts, camshafts and drive shafts, as well as other larger engine components. The plan is to increase the number of employees that work around the ‘Ring, and have them working in a newfangled technology center that’s already been planned, according to Der Spiegel.
It won’t be all plain sailing for the new management, though, as the circuit went through legal hell after it was declared insolvent and is also linked to a very high level corruption scandal in the country. Payments still have to be made “state-owned financial intermediaries.”
The acquisition price was not announced, but it’s speculated to be in excess of one hundred million euros.
By Andrei Nedelea
GIPHY App Key not set. Please check settings