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| Subject: Nurburgring bought by German motorsports company | |
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Author: MotobkeBob |
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Date Posted: 05:16:39 03/14/14 Fri In reply to: MotobkeBob 's message, "Nurburgring sold to American investment company?" on 05:39:04 03/11/14 Tue German motorsport company The Capricorn Group has purchased the financially troubled Nurburging, for a reported 100 million Euro. The Capricorn Group – who has an R&D facility in the area and a range of performance products to the motorsport industry – fought off competition from US investment company, HIG Capital. In July 2012, the track—saddled with debt reported to equal about 50 years’ worth of profit—declared bankruptcy, and was put up for sale last May. Assets acquired by Capricorn include the Nordschleife, plus the adjacent modern Formula 1 course, hotels, and an amusement park. Capricorn has confirmed the 12.9 mile Nordschleife circuit will continue to feature public days as well as continue in it’s role as “the most demanding test track in the world”, with plans to invest a further 25 million Euro into expanding existing facilities. [ Next Thread | Previous Thread | Next Message | Previous Message ] |