Nürburgring Sold To Motorsport Industry Supplier Capricorn Group For $139M
Germany's Nürburgring "has been sold" to motorsport industry supplier Capricorn Group for more than €100M ($139M), ending a months-long search to find new owners for the world's longest racetrack, according to Alexander Hübner of REUTERS. Capricorn's offer "beat out a rival bid" from buyout firm H.I.G Capital. Nürburgring Administrator Jens Lieser said, "It was a close decision." The deal included a pledge to invest around €25M "to expand the facilities" around the Nürburgring. The assets acquired by Capricorn include an amusement park and two racetracks: a modern 5.1k F1 circuit and the Nordschleife, a "treacherous" 20.8km track first built in '27, which is "now used by the auto industry to hone vehicle dynamics for passenger cars" (REUTERS, 3/11).