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:

Comments

Recommended

There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 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