SBD Global/April 14, 2014/Facilities

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  • U.S. Investment Company NeXovation Files EU Complaint Over Nürburgring Sale

    U.S.-based investment company NeXovation said on Friday that "it had filed a complaint with European Union antitrust authorities contesting the outcome of an auction" of Germany's historic Nürburgring racetrack, according to Gerlach & Taylor of REUTERS. NeXovation told authorities that its €150M ($208.2M) cash offer for the racetrack "had not been given proper consideration." Nürburgring, which became insolvent in '12, "was sold last month by its court-appointed administrator to Capricorn Group," a motorsport industry supplier, for more than €100M (REUTERS, 4/11). NeXovation CEO Robert Sexton said, "One of our concerns is that the representatives of some of these stakeholders on the creditors committee may have pushed ahead with their decision based on incorrect or incomplete information or assertions" (NeXovation). In Koblenz, Frank Giarra reported Nürburgring administrators Thomas B. Schmidt and Jens Lieser "have always emphasized that the bidding process was properly conducted." Each offer "was meticulously evaluated" (RHEIN ZEITUNG, 4/11).

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  • Bulgarian Football Union Reaches Deal For New $56 Million National Stadium

    The Bulgarian Football Union, Bulgarian club Slavia and German investment company IFS "have signed a preliminary agreement to build a new national stadium in Sofia," according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The facility "will be built on the site of the current stadium of Slavia in the Bulgarian capital." Apart from Slavia, "the stadium will be used by all Bulgaria's national teams." Sale of marketing and advertising rights "will be handled by the German company." The project cost is expected to be about €40M ($56M) (INSIDE WORLD FOOTBALL, 4/11).

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  • Facility Notes: NRL Wests Tigers To Reconsider Campbelltown As Home Venue

    The future of Campbelltown Sports Stadium as a home venue "will be high on the agenda when the newly structured" National Rugby League side Wests Tigers board comes together for the first time next month. Club officials "are frustrated by the lack of support from the Campbelltown contingency of Tigers fans compared with that at Leichhardt Oval," after only 6,456 turned out for Saturday night’s win against the Cowboys (SYDNEY MORNING HERALD, 4/13). ... Dongguan, China's basketball stadium has been completed by architects von Gerkan, Marg and Partners. The Dongguan Leopards' new venue houses 15,000 (GMP).

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