The Nürburgring has been sold to German automotive firm Capricorn Group for a figure totalling over €100m, with a further €25m of investment in the current infrastructure promised.
The German bid beat the HIG Europe Group's efforts with only minutes to spare.
Capricorn will launch a new company called Capricorn Nürburgring to handle the new business from January 1st 2015. Their plans include relocating the roller coaster to another town in the region, scrapping the maligned ring card payment system, and remodelling the current Eifeldorf as a silverstone style technology park.
Capricorn Nürburgring will also be headed by Adam Osieka, a current
VLN racer and CEO of new racing/tuning outfit Getspeed, based in the
current industry park."It was a very close thing," admitted boss-to-be Adam Osieka. "I haven't slept for two nights, and nothing was decided until the last moment."
HIG, an investment group based in Miami, had been widely tipped to win the bidding process. Indeed only last week they registered six companies to handle their impending victory. Englishman, racer and CEO of those companies Meyrick Cox said: "Of course we are disappointed. We have great experience in this sector, and our consortium runs three circuits already (including the Circuit of the Americas), and has excellent experience with the F1 and music businesses. We hope that the winning bid can do as much good for the Nürburgring as we had planned."
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