German automotive firm Capricorn Group has bought the Nurburgring for over $140 million and is planning to invest another $35 million to further developing the world-famous track.
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Arguably the most famous track in the world, the Nürburgring race facility has undergone some strange changes over the last year and a half since the German government handed it over to private company, Nurburgring Automotive GmbH (NAG).
The management was handed over back in May 2010 in hopes that the company could revamp the popular German race facility but it has become an overwhelming failure even after over $437-million (€ 330-million) of public money was invested into it. Luckily the German government won’t stand idle watching one of its prized possessions fall apart. The authorities announced that they would sever the lease with NAG and are now looking for a new operator.
During NAG’s tenure, there were high-profile scandals to go along with plenty of public pressure to get rid of the group. Changes to the Nürburgring facility included the addition of a theme park and a shopping mall – both of which seem out of place to automotive enthusiasts worldwide. A non-profit organization (read as: Facebook group) has even been setup to “Save the Ring” and has close to 60,000 likes already.
So now the German authorities will find a new operator for the facility and will probably set a contract to last a year, in order to avoid a mishap like this again.
[Source: GT Spirit]