After struggling for years with bankruptcy talks and financial problems, the famous Nurburgring is officially up for sale.
Jens Lieser, the state-appointed liquidator, said that the entire thing is for sale, including its lock, stock and carousel, not only the concrete jungle of arena, roller coaster and museum. It is not known yet whether they would sell the racing park in pieces or as a whole. All that it is known is that currently there are between 5 and 10 serious buyers for the rumored price of €125 million.
What does the sale of Nurburgring means? Well, since the motorsport events which take place here generate little to no profit, the new owner might choose to put all these events at risk. Back in July, the latest reports were saying that the Nurburgring circuit’s management is close to insolvency, raising the prospect that a German grand prix could be held only once every two years, at Hockenheim.
Despite applying to the European Union’s Executive Commission for an emergency loan of £10million to cover interest repayments, that is not expected to be granted, as the company running the complex has a debt of almost 413 million euro.
The state premier of the Rhineland Palatinate government said: “with greatest probability, bankruptcy would be applied for at the end of the month due to lack of liquidity.”