Nurburgring sold (again)
Russian billionaire Viktor Kharitonin reportedly buys controlling share in Nurburgring
The state of Capricorn's finances have been a big question ever since the first day they were named owners incumbent by the state government. Recently it was widely reported that Capricorn boss Robertino Wild was in financial dire straits, with accusations of his property and art collection being mortgaged twice over.
Just to recap, Capricorn and Getspeed were in a partnership to buy the 'ring for a deal worth around 77m euros. Capricorn being the senior, two-thirds, partner in the agreement. It's this senior part of the deal that Kharitonin is understood to have bought into.
The first part payment of 5m euros was paid earlier in the year by the junior partner, Getspeed. But with more payments deadlined for tomorrow and December, and Getspeed being visited by state Bailiffs last month, it seemed like only a miracle could save the controversial deal controversial deal. But as Wirtschafts Woche reports in the article linked above, Kharitonin has made the payments due both this month and in December.
In the very short-term sense, this news comes as a relief, because in the worst-case scenario, the Nurburgring might have closed with immediate effect had Capricorn or Getspeed not made the next payment. The state had already made noises to say it wasn't going to pay the day-to-day running costs of the 'ring or the wages of its staff. Most locals and regulars find it hard to believe that this could be good for the 'ring in the long-term though.
"It's the worst case come true," says Mike Frison, long-time Nurburgring fan and the campaigner behind the Save The Ring movement. "So many times the administrators and politicians kept saying that the 'ring would be taken care of. That it would never fall into the hands of some Russian oligarch. Never trust a politician. Q.E.D. For me it's so sad to be right again."
It's Kharitonin's firm NH Holding that has taken control of Capricorn's stake, and therefore the whole Nurburgring. Kharitonin made his personal fortune alongside more well-known countrymen Roman Abramovich and Evgeny Shvidler in Pharmstandard. His petrolhead habit is largely unreported, but he does appear in the entry list for the Mille Miglia. In nothing less than a 1935 Mercedes-Benz 500K.
Considering he apparently just spent around over £30m on a couple of flats in London, it might not be surprising that he just bought control of, arguably, the world's greatest race track for a few million more...
[Sources: Wirtschafts Woche, Bild.de, Forbes, 1000Miglia.it, BusinessInsider]
E.g. Rhineland-Palatinate's current minister of economics (Green Party). Born in 64, she trained as multilingual personal assistant first, then did an apprenticeship in wholesale and export trades. After that, 4 years work experience as a personal assistant. Then family time and part time economics student. After that 5 years as a clerk for the Green Party.
That's all perfectly honest and fine. But just does not cut it for the amount of power these people have (IMO). You end up with *very* naive characters being in charge here as long as they play their political career right and have a bit of luck.
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
However, fear and loathing of all Russians is not fair or reasonable, especially as many of those you might meet have themselves come here to escape from Putin.
However, fear and loathing of all Russians is not fair or reasonable, especially as many of those you might meet have themselves come here to escape from Putin.
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
I think all russians are women, and of average height
Having dealt with one daily for 12 months, they really aren't that bad and are actually quite generous.
I think all russians are women, and of average height
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