Wednesday, July 18, 2012

Report: Nürburgring goes bust, EU not planning to help

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The Nürburgring is officially broke. According to various German sources, the only chance the owners of the 'Ring have to fend off bankruptcy is if the track gets 13 million euros of new life injected into it. Problem is, state officials have said it's not going to happen.

In other words, the Nürburgring will go into administration and its future will at least in part be decided in court. Also up for debate will be the legality of 524 million euros worth of funding that the state has already pumped into the track, an amusement park with hotels and a shopping mall that make up the local attraction.

Reports indicate that the rest of 2012 will proceed as planned at the 'Ring. After that, it's anybody's guess what will happen to the famous German racetrack.

Nürburgring goes bust, EU not planning to help originally appeared on Autoblog on Tue, 17 Jul 2012 15:59:00 EST. Please see our terms for use of feeds.

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