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Nurburgring Bankrupt

  • 25-07-2012 2:45pm
    #1
    GavRedKing
    Registered Users, Registered Users 2 Posts: 53,262 ✭✭✭✭


    The F1 will be thrown into doubt as the group that runs the track and surronding facilities have filed for bankrupcy.


    http://www.gpupdate.net/en/f1-news/281500/nurburgring-bankrupt-eu-refuses-to-support/
    The Nürburgring has been declared bankrupt by the Minister-President of Rhineland-Palatinate Kurt Beck, who explained the situation during a press conference in Mainz on Wednesday. The Eifel circuit is currently unable to repay its debts and has seen a request for financial assistance rejected by the European Union.

    The venue, which is ninety percent owned by the Rhineland-Palatinate, faces a debt of 300 million euros (235.8 million pounds) after a substantial renovation in 2009. The German state was hoping to avoid bankruptcy by filing for an emergency loan of 13 million euros (15.9 million pounds), but saw its bid for financial support turned down.

    If the situation cannot be resolved, the current rotation deal between the Nürburgring and Hockenheim could change. Hockenheim boss Georg Seller said that although he is open to the idea of an annual race, he would prefer the biennial system to remain


Comments

  • #2
    readytosnap
    Registered Users, Registered Users 2 Posts: 1,330 ✭✭✭readytosnap


    not a big fan of F1 but i did read somewhere a couple of weeks ago (possibly sunday times) that Bernie said he would foot the whole bill to stage the race.


  • #3
    Indricotherium
    Closed Accounts Posts: 1,575 ✭✭✭Indricotherium


    Hopefully people will stop putting that stupid sticker on the back of their ten year old diesel German cars then.


  • #4
    Indricotherium
    Closed Accounts Posts: 1,575 ✭✭✭Indricotherium


    "premium" German cars I should say.


  • #5
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    I don't know anything about Nurburgring, if I'm completely honest, but it's a race track as far as I know, and does it not get regular income from car companies testing their cars on it and the likes? (as opposed to only generating income when it's being used for racing or TV purposes?).


  • #6
    tossy
    Registered Users, Registered Users 2 Posts: 9,593 ✭✭✭tossy


    Indricotherium wrote: »
    Hopefully people will stop putting that stupid sticker on the back of their ten year old diesel German cars then.

    If your car has been there it deserves to wear the sticker,if not then..... :D

    If it ever did close down then the stickers would become even more popular,look at how the sales of padre pio stickers sky rocketed when he kicked the bucket!


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  • #7
    TrailerBob
    Registered Users, Registered Users 2 Posts: 1,519 ✭✭✭TrailerBob


    Looked into this and the main issue is the whole theme park business they built beside the Dorint, it's just guzzled money with no return. The company are looking for Govt funding to bail them out. The German GP deal between Hockenheim and Nurburgring is in doubt but the track won't close. Not for the foreseeable anyway, as manufacturer testing and revenue from public sessions keeps the Nordschleife going.


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