Nurburgring will file for bankruptcy

Article by Christian A., 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:

Pin It

Comments

Recommended

In a leaked image following a presentation held in China, we learned that Czech automobile manufacturer Skoda will soon unveil 2 more new SUVs in China, resulting in a four-model...
by - March 24, 2017
McLaren is said to be designing the next generation of Sports Series, which could include a V6 hybrid among its powertrain options. It was earlier reported that the British automaker...
by - March 24, 2017
To the proud owners and owner-to-be of the Porsche 991 Carrera GTS, there's good news for you all. German automobile manufacturer Porsche recently confirmed to the public that the Porsche...
by - March 23, 2017
McLaren diehards, this is the moment that you're all waiting for. The British automaker recently publicized the teaser outline of its new automobile that will hit the streets soon, dubbed...
by - March 23, 2017
PSA seems very confident about conquering the world. The purchase of Opel/Vauxhall for €2.2 billion ($2.3B) from General Motors makes PSA the second largest car company, just behind the Volkswagen...
by - March 23, 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