I don't know a lot about the land around it does anyone here?

Is the land extremely valuable that someone would want the land for housing or industrial?

I could see some phat banker blocking any hopes of bailout for his own personal cash out.


I'd sure love to run that thing 100 times or so. Maybe when I am older and finally mature.

 

Hi,

From memory there are a couple of members that live nearby, I hope they can chime in at some stage.

Cheers,
Nik

 

That would be a total shame if nobody steps in to save the ring.

 

this is all part of the process to allow the media to announce the failure

and then someone can come in already interested and announce their terms and take over the place with a buyout

easy peasy

 

No, it's mostly grass and trees. There is a small village called Nürburg with a population of 160 including dogs and cats.

And the main reason they're close to bankruptcy is not the race track, but the stupid theme park including a roller coaster and a shitload of hotels that were projected at 200 million Euros but ended up costing way over 400 million.

The project has been promoted in the public with significant contribution of private investors, but they never materialised. Only one investor - Kai Richter - was left and only later it turned out that over 85 Mio Euro in public money have been transferred into his accounts, as he claimed his bank pulled out at the early stages of the project.

In March 2010 the government (Rhineland-Palatinate “RLP”, they own the Ring 90%, the remaining 10% is with the county Ahrweiler) bought everything, which has been built - from hotels to club to restaurants. Most of the money came from public funds anyways. They also took over all debts.

For the first time of the Ring’s long history starting in 1927 the complex has been rented out to privateers. Funny enough to the same Kai Richter, who once was introduced as investor - together with Jörg Lindner, who was part of the initial private engagement too.

The contract has been put in place for 30 years, but the operators are not paying the rent the government expects, which is why their contract got terminated in February this year.

The debt is with the public company “Nürburgring GmbH”, while the two private operators called their company “Nürburgring Automotive GmbH”.

So now two things need to happen urgently: seperate the tracks from desastrous NuroDisney and get rid of the private operators. The rest can be sold or otherwise taken care of, but the tracks need to be run by a public company in benefit to the public. Run by management not looking after themselves, but looking after a solid future for the Ring.

And who are the persons to blame ? The former prime minister of RLP Kurt Beck and all those greedy local suits who took a economically healthy race track and turned it into a budget black hole.

I mean who the fvck needs a 100 million € rollercoaster, when you got the worlds most famous race track right next to it?

Also the state wanted to help, but they supported the theme park and the rest of the Nürburgring with illegal state aids, which is illegal within the contract of the European Union. You can read the full report here.

 

Wouldnt surprise me if Volkswagen buys it and makes it there own testtrack. Makes a few changes on the track and claim that Veyron now has the official record on Nurburgring.

 

No shit, sherlock.

 

Unless the 'ring is in danger of being torn up, I doubt it's going anywhere.

 

it will be a shame if it goes busted. Ring is such a beautiful place. but as for track i can understand the cost to maintain because its size. i hope this is not happening.

 

+1 yep.