Nurburgring goes bust!
Aug 3, 2012 | 09:13 AM
#1
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| F yeah!!! tit got me a silver bar..
Joined: Feb 2012
Posts: 2,618
Nurburgring goes bust!
The Mecca for many car enthusiasts, Germany’s Nürburgring, is apparently in dire financial straits. German newspaper Rhein-Zeitung reports the famed motorsports complex is bankrupt, and that the European Union (EU) may deny the track rescue aid.
The report says the ‘Ring needs around 13 million euros (roughly $16 million U.S.) to continue operating in its current state. The track’s owners must also pay back interest on the 330-million-euro loan previously granted by the state-owned bank ISB. The legality of additional loans totaling 524 million euros (around $643 million) has yet to be determined by European courts. The EU must deliberate on the matter before it can decide on rescue aid.
Meanwhile, the track’s shareholders will begin the bankruptcy process. A shareholder meeting and board meeting are planned, but the Nürburgring’s future is currently in the hands of the courts.
And apparently the garden gnome wants to buy it:
Nurburgring boss Jorg Lindner has confirmed it is "possible" Bernie Ecclestone will buy the embattled German grand prix venue.
Die Rheinpfalz newspaper reported on Thursday that, with the circuit having entered an insolvency process, F1's chief executive was looking into buying the Nurburgring.
"I want to meet the people from the Nurburgring," Ecclestone told Bild newspaper this week. "We want to see if we can help them."
When asked about Ecclestone's reported interest in buying the fabled track, Nurburgring Automotive GmbH chief Lindner said: "I can not judge the economic interests of Bernie Ecclestone.
"But anything is possible," he is quoted by the German news agency SID.
Lindner is also considering heading a management-buyout of the beleaguered circuit, meaning he insists the prospect of a 2013 race at the Nurburgring is "very realistic".
But he said the direction must be clear within the "next four to six weeks".
And "The marketing for 2013 would need to start soon," Lindner also cautioned.
The report says the ‘Ring needs around 13 million euros (roughly $16 million U.S.) to continue operating in its current state. The track’s owners must also pay back interest on the 330-million-euro loan previously granted by the state-owned bank ISB. The legality of additional loans totaling 524 million euros (around $643 million) has yet to be determined by European courts. The EU must deliberate on the matter before it can decide on rescue aid.
Meanwhile, the track’s shareholders will begin the bankruptcy process. A shareholder meeting and board meeting are planned, but the Nürburgring’s future is currently in the hands of the courts.
And apparently the garden gnome wants to buy it:
Nurburgring boss Jorg Lindner has confirmed it is "possible" Bernie Ecclestone will buy the embattled German grand prix venue.
Die Rheinpfalz newspaper reported on Thursday that, with the circuit having entered an insolvency process, F1's chief executive was looking into buying the Nurburgring.
"I want to meet the people from the Nurburgring," Ecclestone told Bild newspaper this week. "We want to see if we can help them."
When asked about Ecclestone's reported interest in buying the fabled track, Nurburgring Automotive GmbH chief Lindner said: "I can not judge the economic interests of Bernie Ecclestone.
"But anything is possible," he is quoted by the German news agency SID.
Lindner is also considering heading a management-buyout of the beleaguered circuit, meaning he insists the prospect of a 2013 race at the Nurburgring is "very realistic".
But he said the direction must be clear within the "next four to six weeks".
And "The marketing for 2013 would need to start soon," Lindner also cautioned.
Aug 3, 2012 | 11:12 AM
#6
Teamspeed Pro
Joined: Oct 2008
Posts: 1,021
From: Hellsinki
PLEASE note a big difference between the original Nordschleiffe and the new NüroDisney shit that is going on. Even thou they are both in the same boat now, the only reason Nordschleiffe is in the boat is because of this new NüroDisney shit.
Heres alot of good info "How come the ring became bankrupt" How come the Ring is in trouble? Is it serious?
Some more: Save The Nurburgring!
And please support or like or whatever the STR FB page: http://www.facebook.com/SaveTheRing
Heres alot of good info "How come the ring became bankrupt" How come the Ring is in trouble? Is it serious?
Some more: Save The Nurburgring!
And please support or like or whatever the STR FB page: http://www.facebook.com/SaveTheRing
Aug 3, 2012 | 11:27 AM
#7
Teamspeed Senior Member
Joined: Oct 2010
Posts: 314
From: New Jersey
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