New Nurburgring owner to keep affordable grand prix 12 March, 2014 The future of Formula 1 at the legendary Nurburgring now appears brighter, after the embattled German Grand Prix venue was bought for a reported €100 million. A week ago, it was reported that Miami-based private equity company HIG Capital was a notable bidder for the fabled venue, having pledged €60-70 million. But it is now confirmed that the buyer is in fact a Dusseldorf based automotive group called Capricorn. Company boss Robertino Wild confirmed the news at a press conference, saying that Capricorn is committed to keeping Formula 1 at the Nurburgring “as long as it remains affordable”. SID news agency said Capricorn is paying €77 million euros, as well as immediately pumping in an additional 25 million to invest in the circuit. Wild said the Nurburgring will “basically go as it was before”, with the exception of the ‘disastrous’ amusement park, which is to be shut down. (GMM) Subbed by AJN. Tweet Related NewsNurburgring buyout on brink of collapseNew Nurburgring owner misses second paymentMercedes backtrack on Brembo blame for Hamilton shuntGermany could host two grands prix per yearVettel negativity blamed for turning off German fansWhy did German F1 fans stay away from Hockenheim?Why is Formula 1 playing to empty stands?Lotus announces two race deal with InterwettenHockenheim boss not worried about future of F1 raceGerman GP world cup goals ticket promo backfires Michel Weij Wonderful news!