Green Hell Yes! Nürburgring Sold to German Supplier for $140 Million

March 13, 2014 at 9:16 am by | Photography by Karl Johaentges, Getty Images

Nürburgring Sold

Nürburgring Sold

The venerable Nürburgring racetrack had become the subject of much ridicule. On top of the legendary Nordschleife, the grand prix circuit, and various testing facilities, the politicians of Rhineland-Palatinate had decided that it needed nothing more than an amusement park. The project failed spectacularly, and in July 2012, the ’Ring was forced to declare bankruptcy. The search for an investor began, and is now over.

The Düsseldorf-based supplier Capricorn, which is rooted in racing technology and maintains extensive testing facilities at the ’Ring, received the final nod in a bidding war that pitted it against the Miami-based investor HIG Capital. The exact details are unknown, but the “transaction volume” is communicated to be around €100 million (roughly $140 million at today’s exchange rates), of which €25 million ($35 million) will be set aside for improvements. As of last week, it was thought that HIG Capital’s bid would be enough to secure the circuit, but it seems Capricorn came in with a winning offer at the 11th hour.

These improvements include a 180-degree strategic shift from the low-brow amusement circus initiated by Rhineland-Palatinate’s former government. Besides keeping the various automotive races, Capricorn’s co-owner Robertino Wild wants to develop the ’Ring into an “automotive technology cluster”—an environment used for research, development, and testing. Many of the goofy structures and buildings associated with the theme-park development will be taken down to make room for appropriate ones. And we will be able to celebrate the ’Ring again in its full glory.

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Written by Lewis Shaw

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i just hate audis sooo much!!

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