Peter Meyer, president of the ADAC, revealed the news to the German newspaper ‘BILD’ in an interview. The automobile club received a message that their bid is considered as too low. Meyer is very irritated about this, as the ADAC bid was in the middle 9 figure price range.
The Nürburgring together with the amusement park is estimated to be worth 77 million euro and owned by the Nürburgring GmbH (nearly completely owned by the federal state Rhineland-Palatinate), who filed for insolvency in July 2012. Peter Meyer criticized that the insolvency administrators are too interested in short profit maximization instead of the future of the Nürburgring and the people in the strong Motorsport dependent region.
The automobile club ADAC plays host to several events at the Nürburgring, for example the infamous annual 24 hours race and their main interest is in the racetrack. They would have also liked to buy the racetrack without its unpopular and criticized amusement park. The ADAC bid was seen as positive hope for the future survival of the ring and its feared that other buyers won’t use it for the peoples interest but for their own.