Mar 12, 2014, 7:48 PM EDT
The future of Germany’s iconic Nurburgring race track has apparently gone from cloudy at best to very sunny.
According to MotorAuthority.com, the track has been sold to German automotive manufacturer Capricorn, thus saving the legendary 16-turn, 5.148 kilometer/3.199 mile from potentially going out of business or even being scrapped and having its massive land area developed.
Track officials had declared the facility insolvent in 2012, but it continued to operate and host major events including Formula One’s German Grand Prix.
Capricorn is no stranger to the facility, according to Spiegel Online, with approximately 100 of its 350 total employees working in a factory on the grounds to produce pistons, camshafts, crankshafts and a variety of other engine parts.
Now that it owns the track, Capricorn is expected to further expand its production footprint, including a new technology center being planned.
Nicknamed “Green Hell” by F1 great Jackie Stewart, Nurburgring’s sale must still be approved by European Union regulators, but that would appear to be a mere formality, given the track had few other suitors to rescue it from its nearly two-year-old insolvency.
F1 president Bernie Ecclestone had made an offer for the track in mid-January, but Capricorn’s offer was reportedly significantly larger.
Follow me @JerryBonkowski
May 26, 2015, 10:30 AM EDT
Look out for Nelson Piquet Jr. and SH Rallycross to have a big year in 2015.
May 26, 2015, 9:04 AM EDT
Daly gets confirmed for this weekend’s pair of races in Detroit.
Juan Pablo Montoya earns nearly $2.5 million for Indy 500 win (full box score with winnings attached)
May 26, 2015, 8:00 AM EDT
Team Penske nearly doubles his haul from first Indy 500 win 15 years ago.
May 25, 2015, 5:40 PM EDT
Runner-up Will Power said it’s as simple as making the cars slower.
May 25, 2015, 3:20 PM EDT
After his second triumph in the Greatest Spectacle in Racing, he is ovewhelmed by congratulatory messages.
Montoya’s Indianapolis 500 win adds another storied chapter to the Roger Penske-Chip Ganassi rivalry
May 25, 2015, 2:12 PM EDT
They are the only car owners to win the Daytona 500 and Indianapolis 500 in the same season.
May 25, 2015, 1:00 PM EDT
The Mercedes-affiliated youngster clinches his first win of the season around the legendary streets of Monaco.
May 25, 2015, 12:00 PM EDT
After a miserable run of form, Latvala finally climbs to the top step of the podium with a narrow win over Sebastien Ogier in Portugal.
May 25, 2015, 11:30 AM EDT
Andretti ends sixth, best of the day for the defending Indy 500-winning team, while Hildebrand leads the one-off drivers.
May 25, 2015, 11:00 AM EDT
Running inside the top ten, Grosjean’s hopes of points were dashed on Sunday in Monaco when Max Verstappen crashed into him.
May 25, 2015, 10:11 AM EDT
Townsend Bell’s final blog for the Indianapolis 500 touches on family, meeting Jeff Gordon, and a crazy view from the driver’s seat.
May 25, 2015, 10:00 AM EDT
A sixth-place finish in Monaco disappoints Raikkonen, but he lays blame with his poor qualifying form.
May 25, 2015, 9:48 AM EDT
One of Simon Pagenaud’s best oval races to date ends P10 after running top three most of race.
May 25, 2015, 9:00 AM EDT
The win may have come by accident, but Rosberg etched his place in F1 history on Sunday.
May 25, 2015, 8:00 AM EDT
The Red Bull boys finish fourth and fifth in Monaco to give the team something to smile about after a tough start to the season.
May 25, 2015, 1:04 AM EDT
Sunday’s winners of the NHRA Kansas Nationals were Jack Beckman (Funny Car), Richie Crampton (Top Fuel) and Erica Enders-Stevens (Pro Stock).
May 24, 2015, 8:42 PM EDT
Video recap of Montoya’s win at Indianapolis 500.
May 24, 2015, 7:47 PM EDT
In his second win at the Brickyard, the Team Penske driver delivered a performance that embodies his style.
May 24, 2015, 7:31 PM EDT
The latest Paddock Pass is now online.
May 24, 2015, 7:24 PM EDT
Once again in 2015, it’s Graham Rahal and Rahal Letterman Lanigan Racing best of Honda’s brigade.
- Drivers ponder why cars didn’t go airborne during the Indianapolis 500 2
- Bell: “A wild Indy 500 without the finish we desired” 0
- Ryan: Juan Pablo Montoya comes full circle at Indianapolis 1
- F1 Paddock Pass: Monaco Grand Prix post-race (VIDEO) 2
- Montoya rallies for second Indianapolis 500 victory (VIDEO) 10
- Hamilton: Impossible to express how I feel after Monaco defeat 4
- Rosberg lucks in to third straight Monaco GP win after Mercedes’ mistake costs Hamilton victory 54