Nurburgring Sold To Capricorn Group From Germany For 102 Million Euros

Nearly two years after Nurburgring went bankrupt the iconic race track has finally been passed on from public domain to private one, in the process saving the future of The Ring as well as keeping it in German hands.

The winning bid for the Nurburgring was made by German automotive firm Capricorn Group, for a final figure of 77 million euros. The bid was made in the ending moments, taking The Ring away from Miami based HIG Europe Group's grasp, which was the favourite from the start.

The Capricorn Group will set up a new company called Capricorn Nurburgring to handle The Ring's affairs. The new company will begin operation from January 2015 under the leadership of Adam Osieka, who is currently a VLN racer and CEO of new racing and tuning outfit Getspeed.

As part of the deal the Capricorn Group will invest a further 25 million Euros in infrastructure development. Part of its plan includes relocating the roller coaster, remodelling of the Eifeldorf as a technology park and removal of the ring card payment system among others.

Now that the initial concern about the Nurburgring's future has been taken care of what remains to be seen is whether or not Capricorn Nurburgring will keep the Green Hell open for the public.