Nürburgring facing bankruptcy

According to various German sources, the only way the owners of the Nürburgring can fend off bankruptcy is if the track gets a sizeable cash inflow.

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Nürburgring facing bankruptcy
Jul 20, 2012

According to various German sources, the only way the owners of the Nürburgring can fend off bankruptcy is if the track gets an infusion of 13 million Euros (about Rs 88 crore).

The German state officials have said that it is not possible to drum up such an amount. In other words, the Nürburgring will go into administration, and its future will, at least in part, be decided in court. Also up for debate will be the legality of 524 million Euros (about Rs 35,000 crore) worth of funding that the state has already pumped into the track, an amusement park with hotels, and a shopping mall which constitute the local attractions.

Reports indicate that the track will continue to be open for the calendar year 2012.

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