F1 circuit Nurburgring has been officially sold to Düsseldorf-based Capricorn Development put in a last-minute bid to buy the track for 77 million euros ($106.8 million), and it’s promising to invest a further 25 million euros ($34.7 million) into the historic racecourse. The company will take full ownership of the ‘Ring on January 1, 2015.
Robertino Wild, managing partner of the Capricorn Group, said: “As an enthusiastic motorsport fan, the Nurburgring has always been a passion of mine.
“We have identified the enormous potential of this unique race venue and would like to optimise the existing structures, but above all turn the vision of an automotive technology cluster into a reality.”
The major remaining question about the track’s future is whether Formula 1 can stay at the grand prix course. Bernie Ecclestone previously threatened to hold future German Grinds Prix only at Hockenheim. While it’s too early to say for sure, Capricorn says that F1 is the pinnacle of the Nürburgring.