The bidding for the Nurburgring race track started this week, and the final price is expected to reach about £100 million.
The Nurburgring race track, also known as the Green Hell, was built in 1927, but in July 2012 it fell into bankruptcy. The race track has been up for sale since then, an the new owner will tale 12.8 miles of the famous track and 300 employees.
The well-known race track is more than 90-years old and can be purchased by several investors. The purchase will be made free from the £338-million debt which forced the previous owners to file for bankruptcy. Nürburgring’s estimated annual turnover is around £50.7 million. There are many protesters who say that the track should go back into public ownership instead of becoming a private acquisition.
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.
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.