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“The Ring” goes under – NÜRBURGRING

19 July 2012 2 Comments

For those of you that don’t know the Nürburgring, it is a Historical Race track in German, Most if not all tyre manufactures test their tyres on the track as it simulates day to day driving. Apparently “The Ring” is going under and is due to file for bankruptcy.What will happen to this awesome track…

VisorDown:

NÜRBURGRING GmbH, the state-owned company that owns the Nürburgring has gone bankrupt.

The company hoped for a €13-million rescue package from the European Commission but the European competition authorities refused to approve the plan and the firm which owns the track has now announced it is going into administration.

Although parts of the ‘Ring are profitable, large amounts of money were squandered on a roller-coaster that was deemed too dangerous to run and a huge shopping centre that is all but empty.

Events will continue as normal, as administrators try and extract as much value from the situation as possible. It looks like tax payer will pick up the bill. Ernst & Young value the assets at €126-million but the firm is €413-million in debt.

It’s likely a new private investor will take over or the circuit will go back under state control. Meantime, a lot of dead wood is going to be cut out of the Nürburgring to make it look as attractive as possible to potential new financiers.


The Nürburgring is a motorsports complex around the village of Nürburg, Germany. It features a Grand Prix race track built in 1984, and a much longer old North loop track which was built in the 1920s around the village and medieval castle of Nürburg in the Eifel mountains. It is located about 70 km south of Cologne, and 120 km northwest of Frankfurt. The old track was nicknamed “The Green Hell” by Jackie Stewart and is widely considered one of the most demanding purpose-built racing circuits in the world.

Originally, the track featured four configurations: the 28.265 km -long Gesamtstrecke (“Whole Course”), which in turn consisted of the 22.810 km Nordschleife (“Northern Loop”), and the 7.747 km  Südschleife (“Southern Loop”). There also was a 2.281 km warm-up loop called Zielschleife (“Finish Loop”) or better known as Betonschleife, around the pit area.

 


2 Comments »

  • Angelo said:

    Another sad day for the motorsport entity… They cant close it before i have a run!!!!!

    [Reply]

    Blair Reply:

    Yea Angelo it is, but I don’t think the Ring will ever close down.. But you never know with these beer drinking Germans ;)

    [Reply]

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