You are using an older browser version. Please use a supported version for the best MSN experience.

Report: Nurburgring Racetrack Sold to Russian Businessman

Motor Trend logo Motor Trend 10/31/2014 Joseph Capparella
Seat Leon Cupra 280 Prototype Nurburgring Front© Provided by MotorTrend Seat Leon Cupra 280 Prototype Nurburgring Front

After a few months of uncertainty, the Nürburgring racetrack in Germany has been sold to Russian billionaire Viktor Kharitonin. According to a Bloomberg, Kharitonin, who is the chairman of a Russian pharmaceutical company, bought out two thirds of the company that currently owns the Nürburgring.

This transaction reportedly went through after a previous bidder, automotive parts company Capricorn Automotive, GmbH, failed to complete its purchase of the well-known racetrack in Northwest Germany. Though official numbers have not yet been released, Capricorn previously announced it would pay upwards of $139 million for the track.

Though it’s still unclear what this acquisition means for the future of this hallowed automotive ground, we do know that the purchase at least included the 13-mile North Loop and the 3.1-mile Grand Prix loop. We also previously reported that any buyer of the Nürburgring would be required to keep the track open to the public (for a €26 fee on public days) and to automakers for testing.

vauxhall-corsa-vxr-nurburgring-edition-sticker-2© Provided by MotorTrend vauxhall-corsa-vxr-nurburgring-edition-sticker-2 The Nurburgring racetrack was built in 1927 and became well-known for its challenging course that plays an important part in motorsports history and is also an important testing ground for many automakers. After the previous owners of the Nurburgring failed to pay loans, the track was offered for sale late last year. Among the rumored bidders were finance group HIG Capital, British Formula 1 mogul Bernie Ecclestone, and several automakers, none of which came through in the end. Then, a report in March said that investment firm HIG Capital was in the works to seal the deal, but that transaction went through, as did Capricorn Automotive's more recently.

Stay tuned for more news about what this newest transaction means for the future of the famous ‘Ring.

Source: Bloomberg

AdChoices
AdChoices

More from Motor Trend

Loading...

image beaconimage beaconimage beacon