Nürburgring Set to be Sold to American Investment Firm

Nürburgring Set to be Sold to American Investment Firm

Perhaps the most famous race track in the world, the Nürburgring, is set to be sold to an American Investment firm based in Miami.

The track has been in a dire financial situation for the last two years, brought on in part by poor business decisions which saw high-priced housing along with a theme park built at the track. Now, a consortium of investors led by Miami-based HIG Capital has put forward a bid of between $82.2 million and $96.2 million, which has reportedly been accepted.

The investment firm is looking to purchase the track along with the theme park, hotels and the Nürburgring shopping mall.

Currently, the Nürburgring is owned by the German government, who will be responsible for selling the facility. It was believed originally that Nürburgring trustee Jens Lieser was searching for a three-digit sum, but it seems like that didn’t come to fruition.

The bidding process is still open, so the deal has not been finalized, though the Nürburgring commission wants to complete the sale by the end of this month.

[Source: Reuters]

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