German Automobile Club ADAC Plans To Buy Bankrupt Nürburgring Racetrack
German automobile club ADAC "is planning on buying the historic Nürburgring" racetrack, according to the SID. The second-biggest auto club in the world "has joined the bidding process for the bankrupt track." ADAC President Peter Meyer said, "The Nürburgring is without a doubt the birthplace of German motorsports. You can call it an automobile artifact. Therefore we've started our effort to preserve this sporting facility for the future." The Nürburgring has been up for sale since May 15. Investors "are able to buy the whole racetrack with Nordschleife, Grand Prix track, amusement park and hotel or individual packages." Business analysts estimated the value of the whole Nürburgring to be around €120M ($157M) (SID, 6/25).