Legendary German Formula 1 Racetrack Nurburgring Could be Sold for $161 Million

Nurburg ring, the legendary German Formula 1 racetrack is facing the prospect of being acquired by a private player. According to reliable sources, there are interested parties who would like to get their hands on the ring and there are serious discussions going on about the price and the modalities of the acquisition. The super rich are always interested in acquiring homes and estates, private islands or luxury yachts but this time it is an entire race track. The experts who have access to the goings on estimate the value of this famed circuit to be about €125 million which is equivalent to $161.39 million at current exchange rates. However it is not clear as to who are the parties who can go for such large investment.
Interested Parties are Neither Oil Rich Sheikhs Nor Russian Oligarchs
Jens Leiser has been appointed the liquidator and he could only confirm that the parties who have shown interest in the deal are neither rich oil sheikhs nor Russian oligarchs. He pointed out that at this stage of discussion it has not been decided if the ring would be sold in its entirety or carved out as smaller parcels and then sold. In any case, it is a great opportunity for those who can afford it to privately own not just a piece of earth but a chunk of contemporary history. The ring was built in 1920s around a village from which it gets its name. It is located in the Eifel Mountains and has four distinct parts.

Nurburgring racing track


The Ring Has 4 Distinct Parts With a New Circuit Added in 1982
The ring consists of the 17.5 mile long Gesamtstrecke (Whole Course), the 12.9-mile Nordschleife, the Südschleife (South Loop) and the Zielschleife (Finish Loop). It also has a new circuit which was added as recently as 1982 and is used for all major events. Over the years several amusement parks, hotels, and restaurants that have come up and added value to the ring. However there is a simultaneous movement to save the ring led by Mike Frison. He has launched an online campaign named savethering.org. He believes that privatization of the tracks will limit the access and adversely impact the large section of Formula 1 racing fans. It is a public place and should continue under public ownership.

Via: autoweek, bridgetogantry

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