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.