Bidding for the Nürburgring has begun, with the race track and its associated facilities expected to sell for around £100 million.
Constructed in 1927, the ‘Green Hell’ fell into bankruptcy last July and the track has been in need of a buyer since then. The new owner will take over 300 employees and 12.8 miles of tarmac famed for its danger and risk.
The 90-year old Nordschleife has the possibility of being sold to more than one investor, who would purchase the Nürburgring free from the £338 million worth of debt that caused the previous government-supported owners to file for bankruptcy. Currently the Nürburgring has a yearly turnover, estimated at around £50.7 million.
Unique in its appeal, the Nürburgring sale has drawn protesters who voiced their opposition to the track’s private sale. Many of those protesters would rather that the Nürburgring went back into public ownership as it had been previously, securing the Nordschleife as a public facility rather than a private acquisition.
Hmm. Doing the Maths- investment paid back in two years.... (Strokes beard....)
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| fancy a piece of The Ring? So to speak... |
Constructed in 1927, the ‘Green Hell’ fell into bankruptcy last July and the track has been in need of a buyer since then. The new owner will take over 300 employees and 12.8 miles of tarmac famed for its danger and risk.
The 90-year old Nordschleife has the possibility of being sold to more than one investor, who would purchase the Nürburgring free from the £338 million worth of debt that caused the previous government-supported owners to file for bankruptcy. Currently the Nürburgring has a yearly turnover, estimated at around £50.7 million.
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| Can't beat a bit of Ring action... |
Hmm. Doing the Maths- investment paid back in two years.... (Strokes beard....)
Join Cloud9bikes on Facebook www.facebook.com/cloud9bikes
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