The Nürburgring has officially been sold for $106.8 million. Despite rumors that had it potentially being purchased by HIG Capital along with several other investors, it will stay in German hands.
Capricorn Development, a Düsseldorf-based company, made a last minute bid for the Nürburgring with its $106.8 million offer along with the promise of an additional $34.7 million investment in infrastructure. The ‘Ring has been up for sale since last year when the owners defaulted on payments for loans to build a roller coaster and hotels.
The sale will be complete with on January 1st with the newly formed Capricorn Nürburgring taking full ownership on that date. Capricorn Nürburgring will be led by Adam Osieka who is currently a VLN racer and CEO of the racing and tuning outfit, Getspeed.
They’ve already got big plans for the Nürburgring including relocating the roller coaster to another town in the area, dumping the ring card payment system, and remodeling what is now Eifeldorf into a new technology park. Right now they’re saying that the focus of the track will be on motorsport and that it will stay open to the public. The question as to whether it will host any Forumla One events is still up for debate.
The Nürburgring has hosted over 30 Forumla One events since the track was built in 1927, including the infamous 1976 race in which Austrian driver Niki Lauda’s car burned with him trapped inside. Formula One’s Bernie Eccleston made a bid for the track back in January and has threatened to hold all German Grand Prix at Hockenheim, but with the sale final and improvements planned, that could change.
Watch the sights and sounds of the 2013 US Formula One Grand Prix at the Circuit of the Americas…
Nicole Wakelin fell in love with cars as a teenager when she got to go for a ride in a Ferrari. It was red and it was fast and that was all that mattered. Game over. She considers things a bit more carefully now, but still has a weakness for fast, beautiful cars. Nicole also writes for NerdApproved and GeekMom.