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Capricorn wins bid for Nürburgring

Some 20 months after its insolvency application was made, and following intensive negotiations with potential investors across Europe, the historic Nürburging and all of its assets have been acquired by the newly established Capricorn Nürburgring, part of the Capricorn Group.
Headed up by managing directors Dr Robertino Wild and Adam Osieka, the new buyer belongs to a medium-sized business that has its roots in motorsport and provides products and services for the automotive and aviation sectors through the development of innovative materials and technologies at several sites across Europe.
The transaction is said to be in excess of US$140 million, with up to US$35 million earmarked for investment in the expansion of the Nürburgring via the creation of a new Automotive Technology Cluster, which promises to create further jobs in the region.
“As an enthusiastic motorsport fan, the Nürburgring has always been a passion of mine,” said Capricorn’s Dr Wild. “We have identified the enormous potential of this unique race venue and would like to optimize the existing structures, but above all turn the vision of an Automotive Technology Cluster into reality.”
According to Osieka, existing contacts with universities, colleges and leading businesses in the automotive sector are to be exploited for the expansion of the technology center. Capricorn will officially take over on 1 January 2015, and continue to run the Nürburging’s business operations, which include motor races, music events, tourist and test drives as well as hotel and holiday facilities.
Future structural changes include plans for the ring racer to be shut down, while the Eifeldorf Grüne Hölle will be replaced by the proposed Automotive Technology Cluster, and the ring card will also be dispensed with.
The purchase will not affect the 2014 season and its race calendar.

13 March 2014


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