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SBD Global/November 29, 2012/Events and Attractions

Compromise Between Owner, Operator Keeps Hope Of F1 Race At Nürburgring Alive

Liquidators revealed that "an F1 Grand Prix at the financially struggling Nürburgring racetrack is back in the realm of possibilities after private racetrack operator NAG and the bankrupt, state-owned Nürburgring GmbH agreed to a compromise," according to the SID. Liquidator Thomas Schmidt said, "Now the NAG has to reach a contract with [F1 CEO] Bernie Ecclestone. If the NAG is unsuccessful, we will immediately talk with Mr. Ecclesteone." The new compromise allows the NAG to continue negotiations with Ecclestone about an F1 Grand Prix at the Nürburgring in '13. In February, the state of Rhineland-Palatinate, which owns 90% of the Nürburgring GmbH, early terminated its lease contract with the NAG that was supposed to run until '40. Schmidt said, "Through the compromise, we've established the foundations for a legal and future orientated utilization of the Nürburgring for one or multiple investors" (SID, 11/28).
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