Not too long after it was reported that German car club, ADAC was planning on purchasing the entire Nurburgring complex, new reports have emerged that Formula One-supremo Bernie Eccelstone is considering purchasing the legendary circuit and all its facilities.
Despite hosting some of the best motorsport events on the calendar such as the Nurburgring 24 Hours and the Formula One German Grand Prix every second year, the Nurburgring has long been plagued with financial concerns after previous owners overloaded the complex with debt and bad investments.
Bidding for the entire Nurburgring complex was opened in late May. All interested parties for the Nurburgring complex had until June 12 to officially express their interest in the purchase and the entire complex is for sale including the old Nurburgring course, the Formula One Grand Prix circuit, the Motorsports Resort and the Congress and Motorsport Hotel.
While discussing the possibility of purchasing the Nurburgring, Eccelstone said, “It’s quite possible that I’ll buy it (the circuit).
“At least I’m thinking about it.
“If I do that, it would mean the German grand prix is secure in the future, taking into account of course the existing contracts with Hockenheim.”
The Nurburgring currently has around $500 million worth of debt and that’s reportedly why the complex is up for sale despite turning over around 60 million euros annually. Fortunately however, it was previously announced that the current debts will be wiped clean when the sale is completed.
[Via World Car Fans]