• Germany's news in English

Iconic Nürburgring track heads into final lap

The Local · 21 Jul 2012, 15:53

Published: 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.

Story continues below…

“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

'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
Pegida take to Dresden streets - to march against Pegida
Pegida demonstrators. Photo: DPA

Followers of the xenophobic Pegida movement marched in two factions on Monday evening in the capital of Saxony, brandishing fierce accusations of treason against one another.

Is it fair to call the AfD far right?
AfD leaders, from left, Georg Pazderski, Frauke Petry and Jörg Meuthen. Photo: DPA.

The AfD has been dubbed "far-right" over the past year as it has taken on a tougher stance against immigration and made gains in state elections. But at what point does one call a group far-right?

Dresden police guard Islamic buildings after mosque attack
The Dresden mosque that was hit by a homemade bomb attack on Monday. Photo: DPA.

All Islamic buildings in the capital of Saxony have been put under police protection on Tuesday after explosive devices were detonated at a mosque and a congress centre in the city.

Germany blocks WhatsApp data transfers to Facebook
Photo: DPA

German data protection authorities on Tuesday said they had blocked Facebook from collecting subscriber data from its subsidiary WhatsApp, citing privacy concerns.

Stuttgart fest pulls in twice as many boozers as Oktoberfest
Is this Oktoberfest or is this Stuttgart's Cannstatter Volksfest? Can you tell the difference? Well, it's Stuttgart. Photo: DPA.

Apparently Munich is no longer the top place to wear lederhosen and down beer one litre at a time.

The Local List
10 German films you have to watch before you die
Photo: DPA

These films are so good, not even The Cabinet of Dr. Caligari made the list.

Young man destroys 17 cars after visiting Oktoberfest

Early on Monday morning a drunk 29-year-old trashed 17 cars after staggering out of Oktoberfest into the Munich streets. It was one of several eye-popping crimes from "Wiesn" over the past few days.

VW emissions scandal
Audi tech chief leaves after reports link him to 'dieselgate'
Audi's head of technical development Stefan Knirsch stepped down on Monday. Photo: DPA.

Audi's head of technical development stepped down "with immediate effect" on Monday, the luxury carmaker announced, after German media accused him of involvement in parent company Volkswagen's "dieselgate" scandal.

Deutsche Bank shares hit lowest level in quarter century
Photo: DPA.

Shares in Deutsche Bank, Germany's biggest lender, sank to a historic low on Monday after reports at the weekend that Berlin had refused state aid for the embattled lender.

The Local List
The 10 worst German cities for students to find digs
Photo: DPA

It's the start of autumn, which means the start of the university year. But along with the excitement comes the stress of finding housing - and in some glamorous locations this can be a nightmare.

Sponsored Article
The Inner Circle: the secret to dating in Berlin
15 pics that prove Germany is absolutely enchanting in autumn
Sponsored Article
Why Jordan is the ‘Different’ East
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Sponsored Article
Retiring abroad: ensuring your health is covered
Seven great reasons to stay in Germany this September
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Sponsored Article
The Inner Circle: the secret to dating in Berlin
Eleven famous Germans with surnames that'll make your sides split
The best ways to get a visa as an American in Germany
Germany's 17 Olympic gold medals in pictures
14 facts you never knew about the Brandenburg Gate
Ten times Germans proved they really, really love beer
Six things you need to know when moving to Germany
These 10 little-known German towns are a must see
German scientists prove birds can sleep while flying
London v. Berlin: Which is better for startups?
13 mortifying mistakes German learners always make
Enter if you dare: Berlin's best abandoned haunts
10 rookie errors all Brits make when they arrive in Germany
jobs available
Toytown Germany
Germany's English-speaking crowd