Nürburgring Bought By Germans, Not Americans

Capricorn Group, a German motorsport supplier, outbids the HIG investment firm.

Contrary to the story we posted last week citing a Reuters report that stated the HIG investment firm was “poised to buy” the financially troubled Nürburgring racetrack in Germany for roughly $82 million, the legendary facility now has been sold to the Capricorn Group, a German motorsport industry supplier, for 100 million euros (about $139 million). What’s more, according to a more recent Reuters report, the German company has pledged to invest an additional 25 million euros (about $35 million) to expand the facilities around the Nürburgring.

The Capricorn Group—which already has a large R&D facility there and supplies crankshafts, cylinder liners, pistons, connecting rods and carbon-fiber pieces to the motorsport industry—reported at a press conference that it plans to develop the Nürburgring as a technology center. The 937-acre facility already is a popular test hub for the auto industry, and the 12.9-mile Nordschleife will continue in its role as the most demanding test track in the world. Capricorn has also made it clear that public lapping days will continue. Assets acquired by Capricorn include the Nordschleife, plus the adjacent modern Formula 1 course, hotels, and an amusement park.

So, the ’Ring has stayed in German hands. One can only assume that Capricorn, given its motorsports ties, will be a good steward for the bankrupt facility. But putting it on a path to profitability while maintaining the great character of the place will be no easy task.