The iconic Nürburgring in the West of Germany is now almost completely in the hands of a Russian Billionaire. According to Forbes Russia, Viktor Kharitonin purchased an additional 19% stake in the German racing circuit after already owning 80%. The remaining one percent is said to be in the hands of ‘Getspeed’, a performance company that is based near the circuit.
For the first 80%, the Russian pharmaceuticals tycoon had to put down some $87 million. His latest investment into the German asphalt cost him another $43 million, bringing his total investment into the Nürburgring to approximately $130 million.
The new injection of capital may very well secure the future of the German racing circuit, as its future was left in doubt after it was made clear previous owner Capricorn was in financial trouble. The circuit’s new owner went even further and reinstated talks with F1 Boss Bernie Ecclestone in an attempt to get the Nürburgring back on the F1 calendar. Since last year the ring hasn’t been playing a role in the Formula 1 due to its financial status, and the Hockenheim Ring is getting the action instead.