Nürburgring Sold to German Development Group

03/12/2014 @ 11:24 am, by Jensen Beeler5 COMMENTS

Nürburgring Sold to German Development Group Nurburgring Logo 635x423

After three years of uncertainty, the Nürburgring has finally been sold, and not to an American investment group as had been rumored, but instead to a German real estate development group: Capricorn Development.

Capricorn is said to have paid €77 million for the iconic race course and its surrounding facilities, with the Düsseldorf-based firm promising to pump another €25 million into the property once they take full-ownership of it on January 1, 2015.

Besides putting the Nürburgring in solid financial hands, motor enthusiasts should be pleased to hear that Capricorn plans on keeping the race course open to the public, and that the motorsports facility will be the focus of the property’s purpose (previous proposals hand all manners of non-motorsport uses in mind).

Capricorn Development hopes to create a technology and development park around the Nürburgring, something we have seen other track organizations do with some success (take Silverstone and Motorland Aragon, for example).

The hope is that by bringing commercial and industry players into the Nürburgring area, it will not only help bolster the local economy, but also create a mutually supportive economic zone for these businesses.

We shall see what that means in reality for the development group, especially as it tries to maintain marquis events like Formula 1 (which seem to always been a precarious state). For now though, with the public still able to ride the Nordschleife, the ‘Ring seems to be in good hands.

Source: AutoBlog

Comment:

  1. Bill says:

    Awesome. This has a better long term success possibility than a high end parts maker running it. Maybe it will develop enough to host more forms of racing again.

  2. L2C says:

    I first read this news over at Pistonheads yesterday morning. It’s funny, the first thing I thought about smiler. The other day he made a point here at A & R about how German investors tend to swoop in at the last moment to save German commercial properties in order to keep foreign investors from taking control of those properties.

  3. L2C says:

    It was Miami-based HIG who lost out to Capricorn Development in the final seconds of the fourth quarter.

  4. smiler says:

    L2C says:
    March 12, 2014 at 1:15 PM
    German investors tend to swoop in at the last moment to save German commercial properties in order to keep foreign investors from taking control of those properties.

    The list is ever so long. When Renault were looking to Purchase VW, Porsche purchased 18% of shares, triggering a law in German that then prohibits VW being taken over by a foreign company.

    Bosch for example is not even a company as such, it is a trust and therefore cannot be purchased but it is not private either.

    The outgoing head of Aston Martin. Dr Ulrich Bez, announced that all production would be moved out of the UK, likely to Germany. He set up production of the Rapide in Austria. He also signed the deal for Aston to be supplied by AMG, which of course means engines, ZF gearboxes and axles and the associated Bosch electronics reducing Aston to a coachbuilder.

    McLaren however seem to be able to source their engines, electronics and drive trains in the UK. Jaguar make their own and Cosworth built the 1.6L turbo for the C-X75, have a Formula 1 grade V8 and are possibly the best engine engineering company in the UK with many years of engine development experience.
    Dave Richards saw production of the Aston Rapide brought back to the UK towards the end of 2012. just before the Doctor left. he did however do wonders for Aston.
    Development of the new chassis for the Gallardo replacement, designed and built in Germany and so it goes on.

    It is however all a conspiracy and without any truth.

    Germany in a sense is like your wife. What’s mine is mine and what’s yours is mine.

  5. Norm G. says:

    Germans support Germany. nothing to see here, move along.