Nürburgring sold to Russian billionaire Viktor Kharitonin
Viktor Kharitonin has acquired the Nürburgring after Capricorn Group was forced to sell its majority stake due to financial difficulties.
Russian pharmaceutical billionaire Viktor Kharitonin has taken ownership of the Nürburgring, securing the future of Germany’s most famous racing circuit after a turbulent period of financial uncertainty. Kharitonin stepped in to acquire the majority stake from Capricorn Group, which had struggled to meet its payment obligations following its €77 million deal earlier in 2014.
The Nürburgring, often called “the Green Hell”, is a critical proving ground for carmakers developing high-performance models. The circuit’s future had been in doubt following a series of financial crises, culminating in Capricorn’s inability to provide the capital promised when it won the bid to buy the track in March 2014. Getspeed, Capricorn’s partner in the deal, had made an initial €5 million payment, but Capricorn’s senior partner was unable to raise the remaining funds.
Kharitonin, who made his fortune in the Russian pharmaceutical sector, reportedly paid both the second and third instalments for the Nürburgring, with the final payment arriving months ahead of schedule. This move effectively transferred control of the circuit to him, though the long-term strategy for the venue under his ownership had not been detailed at the time of the transaction.
Background to the Nürburgring sale
The sale followed a period of instability for the Nürburgring, which had entered insolvency proceedings in 2012 after a failed leisure park project and mounting debts. The circuit, which includes both the Nordschleife and Grand Prix layouts, is not only a motorsport icon but also a major destination for automotive testing and public track days. The uncertainty surrounding its ownership had raised concerns among manufacturers and racing organisers who rely on the venue for development and events.
Implications for carmakers and motorsport
With Kharitonin’s acquisition, the Nürburgring’s immediate future appeared secure. Manufacturers depend on the Nordschleife’s demanding layout to validate handling, endurance and outright performance, while the circuit’s events calendar draws major international racing series. The new ownership was expected to stabilise operations and reassure industry stakeholders, though no specific changes to track access or event scheduling were announced at the time.
The financial rescue also meant that the Nürburgring could continue to compete with other German venues for major motorsport events. In previous years, the circuit had alternated with Hockenheim as the host of the German Grand Prix, and its future as a Formula One venue had been under scrutiny during the uncertainty. For more on the rivalry between the two tracks, seeHockenheim Faces F1 Exclusion as Nurburgring Seeks Exclusive German Grand Prix Deal.
What happens next for the Nürburgring?
At the time of the sale in late 2014, Kharitonin had not outlined his plans for the circuit. The purchase was seen as a financial rescue rather than a signal of immediate change. The circuit’s commercial potential remained high, given its status in both motorsport and automotive development. Industry observers awaited further details on how the new owner would approach the track’s management and investment needs.
