Nurburgring Sold for 100M Euros

Motorsport

The Ring lives on!

Dusseldorf-based automotive firm Capricorn Group had a successful last-minute bid of 77 million Euros ($106.8 million) for the Nurburgring accepted and is promising to invest a further 25 million Euros ($34.7 million) into the world-famous racecourse. US investment firm HIG Capital was widely tipped to take over, but an increased offer and the promise of bringing new business to the area meant Capricorn sealed the deal.

Newly established Capricorn Nurburgring GmbH will take full ownership of the Ring on January 1, 2015, wih Dr. Robertino Wild and Adam Osieka serving as managing directors. With its roots in motorsports, providing products and services to the automotive and aviation industries, Capricorn said in the press conference announcing the sale that motorsport would be its main priority and the track would remain open to the public. It plans to create an ‘Automotive Technology Cluser’ at Green Hell and bring more industry to the Nurburg locale, while continuing to run the business operations of the track, hotel, and holiday facilities.

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“As an enthusiastic motor sport fan, the Nürburgring has always been a passion of mine. We have identified the enormous potential of this unique race venue and would like to optimise the existing structures, but above all turn the vision of an Automotive Technology Cluster into reality,” said Dr. Robertino Wild.

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