Well it was bound to happen the way things were going. This years dates are all going to be honoured as far as anyone can tell at the moment, fingers crossed it all gets sorted for next year. Nürburgring bankruptcy: What's really happening... ( english ) Pleite: Land muss den Ring verkaufen - Regionales - Rhein-Zeitung ( local ) what it says above. Broke: country must sell the ring Rhineland-Palatinate. Hard cut in the Eifel: The complete or partial sale of the Nürburgring can no longer be avoided. The reason: The EU Commission will not grant the state's own Nürburgring almost the requested emergency aid. For racing fans from around the world, the Nürburgring was a mecca: Now must end the Rhineland-Palatinate state government commitment to the Eifel track with the total collapse of their ring-daughter. DENISE HÜLPÜSCH The newspaper learned from our well informed sources. With the Brussels decision, the holding company in the Eifel is definitely broke. You will only be going to the bankruptcy judge at the Amtsgericht Bad Neuenahr-Ahrweiler. The Nürburgring, one of the most famous and longest circuits in the world, is the longest time been a public property. This message may trigger an earthquake in the political Mainz. The red-green government was hoping to finally being able to avert the bankruptcy of its subsidiary. Brings the power of her word from Brussels is now a severe political defeat. 330-million loan from the bank Background: The state government had asked Brussels, the highly indebted and support of the bankruptcy threatened the country with around 13 million euros daughter to. In addition, should the Nürburgring GmbH, which owns the ring, the interest payments on the 330-million loan from the state-owned investment bank and structure (ISB) was deferred. But this bailout plan refuses to EU competition authority approval. This red-green is no longer in control of the process. About the future of the Nürburgring is decided by a liquidator. This will soon be responsible for all future contracts - whether with Formula 1 boss Bernie Ecclestone on the pinnacle of racing, with the ADAC is negotiating the Truck Grand Prix, with concert promoter Marek Lieberberg about the music festival Rock am Ring. On the fragile situation at the Nurburgring, it's because the EU considers the requested relief be strapped local company information for our newspaper again as aid violation. Brussels is currently reviewing the suspicion that a total of unauthorized aid flowed in the amount of 524 million in racetrack and entertainment complex are. The result of this test is still pending. Ring complex is not worth much The Rhineland-Palatinate, taxpayers will have to reckon with the fact that they are strongly requested to pay. Because according to the balance of indebtedness of the Nürburgring entire ring complex only 126 million euros worth. According to "Business Week" the accounting firm Ernst & Young for the country has created a similar analysis. According to the figures, which also exists in parts of our newspaper, the ring is also indebted Ltd. with 413 million euros. These include the 330-million loan from the ISB and 83 million of shareholder loans. The country could - even for a complete sale - sit at 287 million euros of debt. The ring current season, however, is expected to continue as planned. As it goes after that is, must be in the hands of the liquidator, which satisfy the creditors. Principal creditor is the land. From our Chief Editor Christian Lindner and Editor Dietmar Bruck
Bet the Germans are seething; they can pump billions into Greece and Spain but cant support one of their own businesses
The best way to support a business is to buy its products. Goverment subsidies transfer wealth from taxpayers to the rich.
Seeing as the track is pretty much the source for the entire areas economy and that countless businesses rely on on the track, I doubt it will close. It will probably change ownership, which will mean that there will be a change to the cost/arrangement, so instead of paying for laps, you would pay for the day (like a normal trackday). Dont be too surprised to find out that one of the big German manufacters chip in and buy it. I believe Porsche already have a permenant development base there. If this is the case expect to pay at least £500 to ride/drive it thou :frown: Just my thought you understand
Nobody is taking anything away, certainly not a bank. Its a business and it does not make enough money. What solution would you suggest for a business that does not turn a profit?
Thats not as easy as it could be either. I never went last year but the year before you could not actually use cash to buy anything in the main complex . They wanted you to put your money on a card that you could use throughout the shopping area . Not the same card that you use for your laps though . Any monies on your card that you didnt spend you couldnt have back but could keep it for your next visit ,yeah right , The place was relatively new and mostly deserted I'm not that surprised that they have gone bust . They spent far too much money and tried to sell to millionaires. I was getting sick of paying 23 EU a lap anyway . 4 Laps and almost 100 euros gone all in less than 40 minutes. Years ago I used to get a yearly ticket which was , I think , 780 euros used to use it twice a year for 10 days in total but I bought it with a mate and we probably got 100 laps out of it between us . That was a good deal but them days are long gone. We would go for 5 days at a time and do at least 5 laps a night each , more on a weekend , thats a total of at least 2300 euros for 10 2 hour nights . 5 laps each. As I said its no wonder they went bust.
Agreed. The Ring management seem to have a talent for needlessly annoying their customers. I thought it was an appalling rip-off when I experienced the same thing. There was one string of guys wanting to buy stuff but being turned away because they didn't have the right card, and another string of guys forced to pay for a card they didn't want. Both lots were pretty pissed off. Since the Ring is unique, famous and popular it must take quite some level of management incompetence to lead the business to the point of bankruptcy. By the way, may I express appreciation for Konrad Adenauer who built the Nurburgring in the first place, suffered under the Nazis, and eventually became Chancellor of West Germany.
I think we should all contact a certain Mr J Palmer at MSV. Im sure he has room for a new international circuit
I vote we stop wasting our money on bollocks like the Olympics and build a 'Ring replica over here. Then we ALL get the benefits...:biggrin:
I agree with 470four. I wish we had our own version, I could suggest a few roads in North Wales that would be perfect!
