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The legendary Nurburgring has opened the bidding for ownership this week after the previously government backed owners filed for bankruptcy in July.
The Nurburgring has been in need of a buyer since July leaving 300 employees uncertain of their future. The track famed for being a true test of driver skill and intimidates even the most experienced racers. Its demanding layout has bee a proving ground and benchmark for many auto manufacturers.Top Gear’s famous challenges have used the track with racing driver Sabine Schmitz.
The current owners have over £338 million worth of debt that caused left the owners no choice but to head for administration. Estimated turnover for the Nurburgring is about £50 million per annum, making it near impossible to rid itself of its debts.
The HIG group has put in a bid to take over and registered the acquisition of substantial parts of the Nurburgring with the German government. It is expected that the bid is going to be in the realm of €70 million (£57 million) however many have enthusiasts have taken to protest the sale into the hands of private investors, insisting that retaining the Nordschleife as a public facility for the future is of high importance.
The bidding for the Nurburgring will end in June this year, and its expected we should find out then whether it will remain a historic and public resource.
