The Nürburgring has been officially offered, and it was not to HIG Capital and its group of traders as we had previously expected. Rather, Düsseldorf-based Capricorn Development put in a last-minute bid to purchase the track for 77 million euros ($ 106.8 million), and it’;s promising to invest a further 25 million euros ($ 34.7 million) into the historic racecourse. The company will get complete ownership of the ‘Ring on January 1, 2015.
Capricorn is saying all of the correct factors about its programs for the Green Hell. For the duration of the press conference that announced the sale, it mentioned that motorsport will be the focal stage of its ownership, and the track will continue to be open to the public. It needs to operate with firms to produce a technology center there and bring more market to the Nürburgring area. The firm presently has an office at the ‘Ring that supplies lightweight components to automakers and racing teams, according to RP On-line.
According to Piston Heads, which attended the press conference, Capricorn’;s bid arrived with minutes to spare. It beat HIG Capital, which reportedly presented among 60 million and 70 million euros ($ 83.2 million to $ 97 million), due to the fact of the guarantee to carry new company to the region.
The key lingering question about the track’;s potential is whether Formula 1 can continue to be at the grand prix course. Bernie Ecclestone previously threatened to hold long term German Grands Prix only at Hockenheim. Whilst it truly is as well early to say for certain, Capricorn says that F1 is the pinnacle of the Nürburgring, according to Rhein Zeitung. At least we know it truly is valued.
After a year of inquiries, 1 of world’;s biggest racetracks will stay in German hands. If Capricorn stays true to its word, then it seems to be like the tracks legacy is only going to get better. The ‘Ring lives!