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Iconic Nürburgring track heads into final lap
Published: 21 Jul 12 15:53 CET | Print version
Online: http://www.thelocal.de/sport/20120721-43893.html
The company that manages Germany's troubled Nürburgring circuit has petitioned to enter administration at a court in the town of Bad Neuenahr-Ahrweiler, it emerged on Saturday.
- Legendary Nürburgring track to go bankrupt - Sport (18 Jul 12)
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
What do you think? Leave your comment below.
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Your comments about this article:
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.
'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.