• Germany edition
 
Iconic Nürburgring track heads into final lap
Photo: DPA

Iconic Nürburgring track heads into final lap

Published: 21 Jul 2012 15:53 GMT+02:00
Updated: 21 Jul 2012 15:53 GMT+02:00

The interior minister of the state of Rhineland-Palatinate, the majority shareholder in the company that manages the legendary circuit, told news agency AFP that Nürburgring Automotive made the move on Friday evening.

A spokesman for the minister added that administrators will be appointed by the court on Monday. Nürburgring Automotive are €13 million in debt and had been counting on financial aid from the European Union after extensive renovation work.

But the EU told them last week that no decision on a bail-out would be made until at least July 30.

The Nürburgring has been the main venue for the German Grand Prix since World War II but has shared duties with Hockenheim since 2009.

The latter circuit, in the Eifel region of Baden-Württemberg in southwestern Germany, is hosting this weekend's race and is also scheduled to stage the German Grand Prix in 2014, 2016 and 2018.

But fears are growing over the future of Formula 1 at the Nürburgring. F1 boss Bernie Ecclestone told the Rhein-Zeitung newspaper on Saturday that he hoped for a quick decision over whether the track will host next year’s racing event.

“The negotiations have to be completed within the next few weeks if there’s going to be a race in the Eifel in 2013,” said Ecclestone.

AFP/The Local/jlb

The Local (news@thelocal.de)

Your comments about this article

16:46 July 21, 2012 by smart2012
"fake rich" germany ask eu for money to save a race track??? Now guys u realize how silly all of this??? Lol
21:01 July 21, 2012 by boroboy
80 million people in German, am sure if enough gave €1 a big part of history could be saved , come guys, plus how deep are bernie's pockets.
21:59 July 21, 2012 by IchBinKönig
Another bankrupt money pit and more debt hoisted onto the German taxpayer .
00:15 July 22, 2012 by Steve1949
I don't see a problem for them to get what results in pocket change compared to what the rest of the countries have received so far. If the EU can literally throw away billions of Euro's to Greece, plus Spain and Ireland and the end of the bailouts are no where close to being overwith. Atleast Nurburgring is historical and should be saved.
09:53 July 22, 2012 by lucksi
How did they manage that? Or rather mismanage.

This isn't a race course that is only used several times a year, but daily. Everyone can have a go and it's not cheap either. There are always cars on the track, heck, you can even have traffic jams if the weather is good.

Makes me wonder if someone hasn't been lining their pockets or just how many millions the executives paid themselves for the extremly hard job of managing a world known race track. But if they wouldn't do that, then they would have been enticed away, just like the bankers.
11:33 July 22, 2012 by smart2012
@lucksi, your point is good but is less than a half of the truth. Mani reason is that in Germany there r no sponsors left to pay the bill. Money are somewhere else. Only chance is that Chinese or Arabs come in, or Europe ...
15:58 July 22, 2012 by IchBinKönig
@lucksi

'The interior minister of the state of Rhineland-Palatinate, the majority shareholder in the company that manages the legendary circuit'

Makes me wonder if some Politician isn't lining their pockets. Just like the with buy back of Energy energy company shares.

But, no, you couldn't imagine that. You still want Bigger and Powerful Government. This must be what it looks like when Socialism works.
22:19 July 22, 2012 by McChatter
@ TL "The latter circuit, in the Eifel region of Baden-Württemberg in southwestern Germany," Duh?
Today's headlines
Frankfurt court lifts national Uber ban
Uber manager for Germany Fabien Nestmann leaves the Frankfurt court on Tuesday. Photo: DPA

Frankfurt court lifts national Uber ban

App-based chauffeur car service Uber is no longer illegal in Germany, a Frankfurt court ruled on Tuesday afternoon. READ  

Chef admits Düsseldorf killing spree
Yanquing in court in Düsseldorf on Tuesday. Photo: DPA

Chef admits Düsseldorf killing spree

A gunman who killed three people in Düsseldorf and injured four others in a shooting spree at two lawyers’ offices admitted his guilt on Tuesday. READ  

Man dies six days after chemical blast
The plant was destroyed in the explosion. Photo: DPA

Man dies six days after chemical blast

An engineer who was called to fix a defect at a chemical waste plant which then exploded has died of his injuries – six days after the huge blast near Bremen. READ  

German universities tumble in global rankings
Students at Heidelberg University. Photo: DPA

German universities tumble in global rankings

Three-quarters of German universities have fallen in global standings in the last year, with just one institution among the top 50 in the world, according to rankings released on Tuesday. READ  

Germany prepares to send drones to Ukraine
A Luna drone belonging to the German military. Photo: DPA

Germany prepares to send drones to Ukraine

German unmanned drones could soon be flying over eastern Ukraine to keep an eye on pro-Russian rebel troop movements. READ  

'Why I'm camping for six days outside Apple store'
Photo: The Local

'Why I'm camping for six days outside Apple store'

Most holidaymakers on a week-long camping trip pitch up by lakes or next to the beach. But two Berliners are hoping to break a record by settling in for six days outside the city's Apple Store to be the first to get their hands on new iPhone 6. READ  

Netflix launches in Germany (in English too)
Some of the cast of Orange is the New Black at a photocall in Mexico. Photo: DPA

Netflix launches in Germany (in English too)

UPDATE: TV streaming service Netflix opened its virtual doors in Germany on Tuesday in the face of stiff competition from existing players. Users will be able to watch hit shows and movies in English on the German service. READ  

Auschwitz guard charged over 300,000 deaths
The gates at the former concentration camp of Auschwitz. Photo: DPA

Auschwitz guard charged over 300,000 deaths

A 93-year old man from Lower Saxony will stand trial for 300,000 counts of accessory to murder at the Auschwitz death camp while a member of the Waffen-SS. READ  

Germany can't crack 'CIA double agent' laptop
Photo: DPA

Germany can't crack 'CIA double agent' laptop

An alleged CIA double agent secured his laptop so well that German secret services have failed to crack it since he was arrested in July, according to reports. READ  

Lufthansa pilots abandon Frankfurt strike plans
Ready to go again. Photo: DPA

Lufthansa pilots abandon Frankfurt strike plans

UPDATE: Pilots' union Cockpit has announced that a planned strike at Frankfurt Airport on Tuesday has been called off. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Marks & Spencer
Sponsored Article
Fashion Ladies of the Local: Win a New Autumn Look
Photo: DPA
Politics
These men want to be the next mayor of Berlin
Photo: Shutterstock
Business & Money
The three types of firms hiring foreigners
Photo: DPA
National
Neo-Nazis are attacking newspaper offices
Photo: DPA
Gallery
Election night in Brandenburg and Thuringia
Photo: DPA
Berlin
Berlin spy station sees tourism boom
Photo: DPA/ESA
Tech
VIDEO: How one German astronaut sees Earth
Photo: DPA
Berlin
Frisky couple shock Berlin commuters
Photo: DPA
Politics
Are Germans right to want cooler relations with USA?
Photo: Bayernpartei/DPA
Politics
Why some Bavarians want a Scottish 'Yes'
Photo: DPA
Gallery
12 things to do in Berlin for less than a latte
Photo: Facebook
National
Bavarian waiter breaks beer-carrying record
Sponsored Article
Bilingual education from nursery to graduation at Phorms
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,275
jobs available
Toytown Germany
Germany's English-speaking crowd