The infamous Nurburgring was sold and bought by a German company, for a whopping $118.6 million.
The Nurburgring track has officially been sold. Dusseldorf-based Capricorn Development put in a last minute bid to buy the track, which was purchased for a whopping 77 million euros, equivalent to $118.6 million Canadian – and it is promising to invest another $38.5 million. The historic racetrack will be in full ownership by the company on January 1, 2015.
Capricorn’s bid came at the last minute with no time to spare and beat HIG Capital, which apparently offered between $92.4 to $107.8 million because of promise that would bring new business to the area. The question left is if Formula 1 can remain at the grand prix course. Capricorn says that F1 is the pinnacle of the track, but Bernie Ecclestone previously threatened to only hold future German Grands Prix at Hockenheim.