Nurburgring is bankrupt.

  • Thread starter Thread starter Dennisch
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Hopefully, the Nurburgring can pull together in its financial state. It'll be too tragic to see it disappear, even with the huge expenses for maintaining the track.
 
The Nurburgring, like Lotus Cars, is too iconic a name to go down without some interested party buying it. The question is who. And that's an important one. If it's a serious buyer like VW (again... VW has its own rather large testing track already), then they can foster it and make it profitable.

If, like Lotus, it goes to a buyer with lots of money but little direction... then... :indiff:

If, like TVR, it goes to a buyer who doesn't know what to do with it... then... 👎
 
I can see several car companies jumping up to but the ´Ring. It is after all used fairly extensively for testing, by a wide range of manufacturers. If one owns it, they can charge others to use it.
 
If the circuit already holds as many race events as local regulations allow, pimps itself out to manufacturers to test on, day trippers to lap on, car clubs to host track days on, and as a overflow car park for the GP circuit to use when it hosts an event - then its obviously not a viable business proposition anymore. As with most circuits these days.
 
This is massive and sad news for car/motorsport enthusiasts, I do hope they can find a way to salvage it, that track is legendary.
 
Some people say that the main reason for the baknkruptcy is that the company has put too much of its resources on the amusement park, the hotels, shopping malls (yes, they've got something like that ;)) and such facilities, and that if the company had solely focused on motorsports at the very start, this terrible thing wouldn't have happened :sick:

Personally, I agree with their points too, and I hope someone (or some companies) would come along, fix things right, and make it again the spot of motor racing worldwide 👍
 
I blame the idiots that bought into the 'Ring, that then went and built the pointless theme park etc, which just isn't needed. Strip all that rubbish out, right back to the bare basics, sell off the stuff that isn't needed, and start afresh.

It makes apsolutely no sense to me, how Andrea Merkel (sp?) Can grant so much financial aid to Greece, Spain, etc etc (no offence, as they do obviously need it), but then to refuse the plea, for what is essentially THE most renowned track in the world.

Fingers crossed something good comes out of this, and everything gets sorted, so those of us, and our future kids, grandkids etc can enjoy this wonderful experience!
 
^The future of the nurb is not as important as Greece's or Spain's economic hurdles bro...The nurb going down only affects us macho car fanatics. Those two countries going down affects Europe and perhaps the rest of the world's economy.
 
Just about every car manufacturer of any note has a development centre there.

They could club together and buy it. PR wise, they say they are doing it for car fans and to save the track. That's good PR.
 
Dennisch
It is with great sadness that we have to share news that the European Union denied allowing the state of Rhineland-Palatinate giving financial aid to the crisis-shaken circuit located in the German Eifel region. Bankruptcy is thus almost unavoidable, meaning that the legendary 22.810 meters of tarmac known as the Nordschleife will probably be sold just like it’s brethren known as the Nürburgring circuit.

The owner of the track, the Nürburgring GmbH which is subsequently owned by the state of Rhineland-Palatinate, would need more than 10 million Euros to survive but because of the EU decision it’s not allowed to receive any funds from it’s owner nor is the state allowed to defer any of the 330 plus million Euros the state had previously granted to the company through credits which were given through state owned banks to the Nürburgring GmbH. An investigation about more than 500 million Euros of unapproved financial aid is still ongoing and surely played it’s part in this decision as well.

Currently it’s planned to run the upcoming season as planned but everything thereafter will strongly depend on the liquidator and if the track is being sold as a whole or split up. Ironically, the principal creditor of the operating company is the state itself.

Clickie

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RIP Nurburgring 1927-2012
 
cally-dave
I blame the idiots that bought into the 'Ring, that then went and built the pointless theme park etc, which just isn't needed. Strip all that rubbish out, right back to the bare basics, sell off the stuff that isn't needed, and start afresh.

It makes apsolutely no sense to me, how Andrea Merkel (sp?) Can grant so much financial aid to Greece, Spain, etc etc (no offence, as they do obviously need it), but then to refuse the plea, for what is essentially THE most renowned track in the world.

Fingers crossed something good comes out of this, and everything gets sorted, so those of us, and our future kids, grandkids etc can enjoy this wonderful experience!
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sumbrownkid
^The future of the nurb is not as important as Greece's or Spain's economic hurdles bro...The nurb going down only affects us macho car fanatics. Those two countries going down affects Europe and perhaps the rest of the world's economy.
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Agree 100% with sumbrownkid. Despite the fact that the track closing may affect you more personally than Greece or Spain defaulting if you were to see them default then it could cause a ripple chain effect where tracks not just in Europe, but worldwide would be in doubt.
 
Oh I know that fella, the point I was gettin at, was that the Germans aren't willing to help out something of their own thats so iconic
 
cally-dave
Oh I know that fella, the point I was gettin at, was that the Germans aren't willing to help out something of their own thats so iconic
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Its probably not the thing that's most on their mind. I wouldn't be surprised if the track closes but then is re-opened though.
 
Blitz24
Its probably not the thing that's most on their mind. I wouldn't be surprised if the track closes but then is re-opened though.
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We can only hope it does reopen if push does come to shove. In the meantime, lets just keep our fingers crossed
 
terminator363
I was hoping to go to the Nurburgring and afterwards to Le Mans when I graduate. I hope things can get sorted out.
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This.
 
The whole theme park idea wasn't a completely bad one. A track by itself is not a great generator of income, which is why so many tracks are in such dire financial straits at the moment.

The big question is the financial responsibility or lack of it that went into the development. Was the construction cost-effective? Was it properly targeted at the available audience? Were proper cost-analyses and market research studies done?

But without knowing the specifics of the work done, nor the extent, it's hard to second-guess the developers. Not all theme parks are doing very well in this economic climate, either... and some of those are parks you'd have expected to succeed.

At this point, as pointed out, the problems in Greece and Italy are more pressing matters for the German government than the Nurb. If Greece and Italy default, the losses to the German government from the Euro collapse would be in the billions. If the Nurb closes in 2013 as a public racing facility (assuming manufacturers still use it for testing), the losses will merely be in the millions... And only specifically for the track itself and a modest amount of tourist traffic.
 
niky
The whole theme park idea wasn't a completely bad one. A track by itself is not a great generator of income, which is why so many tracks are in such dire financial straits at the moment.
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I think the touristenfahrten makes a pretty penny overall.
 
The #1 thing on my bucket list was to drive on this track. This is so sad :( I hope it gets sorted out. Who knows maybe this is a blessing and the ring could be bought by someone that will completely renovate it and give it a "facelift".
 
If GM gets their hands on this track.....

500px-Panorama_N%C3%BCrburgring_Haupteingang_2010.jpg


An extremely fancy main entrance..
 
Lambo24
The #1 thing on my bucket list was to drive on this track. This is so sad :( I hope it gets sorted out. Who knows maybe this is a blessing and the ring could be bought by someone that will completely renovate it and give it a "facelift".
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New DLC 💡 ?
 
Genuinely upset, almost brought a tear to my eye.

For the last 5 or 6 years it has been a plan of mine to go up there and drive it. Next month I am turning 17 and I am getting a car, and I was going to drive there within a couple of years time with a few mates.

It's not just that, but this track represents everything that is motorsport, danger, twists and turns and excitement. It represents everything that I love.

I am really really upset.
 
The whole project was on the blink from the start, as the state felt the need to sell the Ring but at the same time gave bonkers financial guarantees to the private owners.

That's how private-public-partnerships work usually.

Anyway, I can't really see the Ring going down.

The most likely scenario would be if the focus would be on providing a testing ground for manufacturers, mostly for PR reasons I suppose, and host the VLN, 24 hours and Touristenfahrten and do away with the rest of the rubbish.

As I take it the amusement park was built in the first place because the state thus agreed to paying a fixed income to the owners.

So, altt things considered, this could be a fresh start for the Ring - for the better.
 

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