Nurburgring will file for bankruptcy

Article by Christian Andrei, on July 23, 2012

The Nürburgring race track is headed for bankruptcy after it was denied a €13-million aid package that would have allowed the famous track to operate for six more months. This track owned by Rhineland-Palatinate is also known as the ‘Green Hell'. According to a report from Rhein-Zeitung, a German newspaper, the operating company has debts of €413 million, which include a €330 million Investitions und Strukturbank (ISB) loan as well as €83 million in other loans.

For several years, the Nürburgring has been hurting from the weight of its huge debt and losses. In 2004, the state invested €215 million for the expansion of the Nürburgring's complex. These plans include a leisure and business center with amusement park and hotel complex, which has been a dismal failure commercially.

The Nürburgring has been where the German grand prix has been held biannually with the Hockenheimring since 2007. This makes the 2013 Nürburgring race highly uncertain. In 1927, the Nürburgring track was opened. This was decided after the 1920s ADAC Eifelrennen, which took place on public streets in the Eifel mountains, was regarded too risky and impractical.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 2017
As if seeing the future more than a decade from now, one of the top scientists in the world of robotics and automations is predicting that children born today won’t...
by - January 19, 2017
Ford has just recently unveiled the 2018 Ford Mustang, and as it turned out, the carmaker gave its beloved pony car a facelift. There have been mixed reactions about the...
by - January 19, 2017
The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries