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Nurburgring F1 venue sold to American group?

Reports claim that German F1 venue the Nurburgring has been sold to an American equity firm.

The future of the Nurburgring complex appears to have taken a step towards resolution amid claims that the motorsport complex has been sold to an American private equity firm.

According to reports from Germany, Miami-based HIG Capital emerged as the winner amongst a number of interested buyers, with the venue being sold for approximately $90m.

HIG had been listed amongst the 'interested parties' on a final short-list that had, at one point, included F1 supremo Bernie Ecclestone, and appears to have been the preferred bidder despite being rivalled by Dusseldorf-based Capricorn and another unnamed US-based equity firm.

The circuit's official receivers had also said that they would not be willing to sell the venue 'at any price', but reports in Germany's Wirtschaftswoche reports that HIG's bid of $90m came in under the preferred $100m mark.

The Nurburgring is scheduled to host next season's German Grand Prix – Hockenheim has the honour in 2014 – but it remains to be seen whether or not the new owners intend for it to remain an active race circuit.

Capricorn and HIG were both reported to be in favour of retaining the track facilities for their current use, but were less convinced by the 'white elephant' amusement park that contributed to the 'Ring's financial downfall. Other suggestions have claimed that the Eifel venue could be turned into a development centre for major motor manufacturers or handed over to developers.




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ghogmk2

March 09, 2014 10:41 PM
Last Edited 174 days ago

Just hope this historic Race track is properly looked after. Followed F1 since the early sixties, the photographs of F1 from this track from Motor Sport magazine are emblazoned in my mind.......... (Who ever takes control of the circuit, Please get rid of the graffiti on the track!,. (unless its from F1 Teams & Drivers))



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