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SBD Global/Finance

The German MotoGP Race Is Not In Danger Despite A Complaint At The European Commission

The motorcycle world championship (MotoGP) race at the German Sachsenring racetrack "is not in danger, despite a complaint of alleged illegal financial support from the state government," according to the SID. The complaint at the European Commission, the executive body of the European Union, "concerns the granting of financial support" of €1.5M ($1.9M) from the State of Saxony to the Sachsenring racetrack. The complaint "was issued by competing racetrack Lausitzring." Sachsenring operator SRM Assistant Board Chair Jan Hippold said, "We are not happy about the complaint, but we have to deal with it. However, I don't see any problems for next year." The financial support money "was supposed to finance necessary upgrades of the racetrack," which hosts the only German MotoGP race. The State of Saxony "is not allowed to transfer the money to the racetrack until the case is resolved," which could take months. The Sachsenring "had to get a loan to finance the necessary upgrades" (SID, 9/23).
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