Nürburgring Officially Sold to Russian Billionaire
The fate of the famed Nürburgring grand prix circuit has been on the tight rope for many years now, with multiple owners spanning across the last few decades, and even more trying to snatch it for pennies on the dollar as its financial situation worsened.
According to reports out of Germany, Russian billionaire Viktor Kharitonin has swept in and snatched ownership away from Capricorn Development, as the Düsseldorf-based company failed to make payments to upkeep its ownership rights.
Such move as officially yielded Kharitonin the majority stake of the German racetrack, with Getspeed Performance Company holding a tiny piece of it, despite confusion of exactly who owns what. Some reports claim the Russian holds 99% ownership, and Getspeed 1%, while others reflect a more conservative 80% for Kharitonin and 20% to Getspeed.
Regardless of what the ownership stake may be, we can only hope this shines a ray of hope for the track’s future, as it failed to host the 2015 edition of the Formula One German Grand Prix. Kharitonin claims that bringing F1 back is its priority, not only for the track but also for the business community surrounding the Nürburgring that relies heavily on motor-tourism.
Chime in with your thoughts on the forum. >>
