Report – Nurburgring racetrack now owned 99 percent by Russian billionaire image

According to a recent report coming from Forbes Russia, the famed Nürburgring circuit is now owned almost entirely – 99 percent actually – by 43-year-old Russian billionaire Viktor Kharitonin.

The famed racetrack has been in financial trouble since way back in 2014, which is when Viktor Kharitonin came to the rescue and bought an 80-percent majority stake. He is the co-founder of pharmaceutical company Pharmstandard, and Kharitonin has now decided apparently to own 99 percent of the complex following an investment of some $43 million (€38 million). The rumor mill calls for Kharitonin to have spent in total $87M (€77M) for the 99-stake in the Nürburgring, with the lonely one percent remaining in possession of GetSpeed. We’re really sad this track – with the massive heritage and its tremendous potential – is only worth such a small amount.

By the way, the circuit even eschewed the regular 2015 Formula 1 German Grand Prix hosting due to “financial matters” with the F1 owners, according to the Russian owner. The report also states Kharitonin is now willing to resume negotiations with Ecclestone over bringing back the famed race to the legendary circuit starting next year. For the current season, the 2016 Formula 1 German Grand Prix will be held on July 31 on the Hockenheimring.

Via autoweek.com