F1: Germany’s Nurburgring Circuit Faces Insolvency - Mercedes-Benz Forum

 
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post #1 of 7 (permalink) Old 07-18-2012, 09:30 PM Thread Starter
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F1: Germany’s Nurburgring Circuit Faces Insolvency

F1: Germany's Nurburgring Circuit Faces Insolvency

Written by: Associated Press
Date: 07/18/2012 - 10:00 AM
Location: Berlin (DEU)
Germany’s Nurburgring circuit, which has hosted Formula One’s German Grand Prix, is to launch insolvency proceedings amid fears that it could run out of cash while the European Commission considers planned government aid.

The state government in Rhineland-Palatinate, which owns the financially troubled Nurburgring GmbH, decided on the move on Wednesday, the dapd news agency reported.

State governor Kurt Beck said the reason was that the European Union’s executive commission wasn’t expected to approve planned government aid of €13 million ($16 million) by the end of this month.

That would lead “with high probability to an insolvency at the end of the month because of a lack of liquidity,” Beck said in the state capital, Mainz. He said his government decided to pre-empt that by choosing to launch “orderly insolvency proceedings.”

The German GP has alternated in recent years between the Nurburgring and Hockenheim. This week’s race is at Hockenheim.

The private company that operates events at the circuit, Nurburgring Automotive GmbH, said that it wasn’t directly affected by the insolvency of the owner and would continue its operations.

The company said in a statement that it agreed with F1 chief Bernie Ecclestone last week on “a concept with which Formula One next year would be feasible.” The company had asked the state government for its approval and hoped to be able to conclude a deal shortly. It gave no details.
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post #2 of 7 (permalink) Old 07-19-2012, 12:53 PM
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That would be a damn shame. Bernie was waffling a bit on this one, doesn't want to see it go and would lower his ridiculous sanctioning fee but also mentioned Hockenheim doing German GP every year.
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post #3 of 7 (permalink) Old 07-19-2012, 03:35 PM Thread Starter
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I watched my first Formula One race at the old Nuerburgring when I was still in short pants.
No other race track in the World comes even close.
It would be very sad to see it go.
List of Nürburgring Nordschleife lap times - Wikipedia, the free encyclopedia
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post #4 of 7 (permalink) Old 07-23-2012, 05:00 AM
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If the nuerburgring really runs into insolvency there is a huge probability that some investor will take it over, right?
I cant imagine it will disappear from the landscape..
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post #5 of 7 (permalink) Old 07-23-2012, 11:49 PM Thread Starter
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Apparently, the Nuerburgring Corp. can't break even either, and the German F1 GP already alternates with Hockenheim.
IMO, the German Government needs to step up to the plate to keep the historical track alive.
Deemed to dangerous for today's Formula 1, I am still a huge fan of the old track.
Sorry guys, I don't seem to get tired of watching this vid
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post #6 of 7 (permalink) Old 07-24-2012, 09:20 AM
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Great video. He was eating Porsches like M & M's!
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post #7 of 7 (permalink) Old 07-25-2012, 04:35 PM Thread Starter
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Originally Posted by gerkebi View Post
Great video. He was eating Porsches like M & M's!
Hans Stuck sen was one of Europe's racing aces, and later on run the Nuerburgring racing school. Jr practically grew up there and probably knows every pothole.
Hans Stuck jr even competed in F1 but is a bit too tall.
Hans-Joachim Stuck - Wikipedia, the free encyclopedia
Another person to know the Northern loop as well might be Sabine Schmitz.
There is even a rumor she has taken over as top gears Stig after Ben Collins departure?
Sabine Schmitz - Wikipedia, the free encyclopedia
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