Buyer confirmed for Nürburgring circuit
11 March 2014 – The Nürburgring circuit and its assets have been sold after a Europe-wide investor process.
The German venue and its surrounding hotels and theme park have been purchased by the Capricorn Group, a Dusseldorf-based automotive supplier, in a deal in excess of 100 million Euros (83.3 million pounds).
Rival bidders included investment firm H.I.G. Capital and, early on, Formula 1 supremo Bernie Ecclestone.
The firm, which manufactures a range of engine components, already has ties to the vast Nürburgring complex. It currently employs more than 350 staff, 100 of whom are based in a dedicated test centre at the circuit itself.
Capricorn will officially take ownership of the famous race track on January 1 2015, following which it is planning to invest a further 25 million Euros (20.8 million pounds) to carry out wide-ranging development work.
It has not been confirmed if Capricorn intends to stage future editions of the German Grand Prix. Under the latest hosting agreement, the venue alternates with Hockenheim, which is the location for this year's event.