Tuesday 17th July 2012

Is the Nurburgring about to go bankrupt?

The Nurburgring's future is uncertain as European Commission puts a stop to state bailout

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The Nurburgring looks likely to go into administration after the European Commission ruled that a planned 13 million euro German government bailout constituted illegal state aid.

This judgement, along with a refusal to allow the Nurburgring's holding company to defer interest payments on the 330 million euros it already has on loan from a state-owned investment bank will inevitably tip the track into bankruptcy.

According to German regional newspaper Rhein-Zeitung, this means that the state government is no longer in control of the 'ring and thus the holding company will have no choice but to enter receivership. On top of the ongoing investigation into the suspected 524 million euros of 'unauthorised' aid, this casts serious doubt on the future of the iconic racetrack.

The paper does suggest, however, that the current racing season will continue as planned. What happens after that is far less certain.

The 2013 German GP, scheduled to be held at the Nurburgring's GP circuit, could even move to Hockenheim. Speaking to German motorsport blog Speedweek.de, Hockenheim boss Georg Seiler said (and please excuse our clunky Google translation): "We currently have no request to host the Grand Prix Germany in 2013, but I do see the possibility that F1 will come back every year to Hockenheim."

 

[danielhodgkiss]

Did it really need half a billion euros invested in it? Last time I went it didn't look particularly under-funded. Also, Nurburgringworld was never really going to be a viable success, was it?

[LaurasOtherHalf]

Most importantly, will it be open for TF laps at the beginning of August when I'm next out there?!

[sideways sid]

Time for a whip-round guys. A few Euros in the kitty & PHers could buy it!

[agtlaw]

Interesting that the state owned holding company is going into administration. All bets were previously on the privately owned management company.

[Guvernator]

My worst fear is that the EU may just be using the Rings current financial woes as an excuse to shut the place down. I can't imagine a place that allows people to just turn up and drive cars very fast with little in the way of legislative involvement is very popular with the bureaucrats in Brussells. In fact I'd imagine there are quite a few EU greenies and Health and Safety nannies who are probably apocaleptic at the continued existence of the place.

[Lanby]

LaurasOtherHalf said:

Most importantly, will it be open for TF laps at the beginning of August when I'm next out there?!

Get the important questions in first, I was thinking the same thing as I still have a lap in an RSR car left

[loudlashadjuster]

Guvernator said:

My worst fear is that the EU may just be using the Rings current financial woes as an excuse to shut the place down. I can't imagine a place that allows people to just turn up and drive cars very fast with little in the way of legislative involvement is very popular with the bureaucrats in Brussells. In fact I'd imagine there are quite a few EU greenies and Health and Safety nannies who are probably apocaleptic at the continued existence of the place.

My advice? Take the foil hat off and go outside for a bit of a stroll.

As a bona fide Online Doctor I'd also recommend avoiding the Daily Mail and Express if you can.

Much love

[Yorkshirepud]

At least it will put an end to all cars getting their suspension setups tuned there.

[WMP]

Unfortunately it was only a matter of time.

I can't see the Touristenfahrten being stopped by anyone, however they should consider separating bikes from other traffic once a week/month though.

[Temple]

Didn't they say the same thing last year?

I really hope its not in as much trouble as suggested.

What a shame that would be for Motorsport and everyone else!

[School boy]

How proud of the ring is the German nation? If they think it's an important part of their country then I'm sure they wouldn't let it die.

[Mermaid]

Guvernator said:

My worst fear is that the EU may just be using the Rings current financial woes as an excuse to shut the place down. I can't imagine a place that allows people to just turn up and drive cars very fast with little in the way of legislative involvement is very popular with the bureaucrats in Brussells. In fact I'd imagine there are quite a few EU greenies and Health and Safety nannies who are probably apocaleptic at the continued existence of the place.

Somehow doubt it - auto industries rely on it, Pistenklause relies on it

[LaurasOtherHalf]

Lanby said:

LaurasOtherHalf said:

Most importantly, will it be open for TF laps at the beginning of August when I'm next out there?!

Get the important questions in first, I was thinking the same thing as I still have a lap in an RSR car left

Damn right, there's a new steak on a stone restaurant opened in Carlisle but its just not the same, they don't even sell bittburger

[framerateuk]

It would be a sad day indeed if the ring was shut down.

I didn't manage to make it down there this year, and I'd be quite sad if last year's trip is to be my last

[Guvernator]

loudlashadjuster said:

Guvernator said:

My worst fear is that the EU may just be using the Rings current financial woes as an excuse to shut the place down. I can't imagine a place that allows people to just turn up and drive cars very fast with little in the way of legislative involvement is very popular with the bureaucrats in Brussells. In fact I'd imagine there are quite a few EU greenies and Health and Safety nannies who are probably apocaleptic at the continued existence of the place.

My advice? Take the foil hat off and go outside for a bit of a stroll.

As a bona fide Online Doctor I'd also recommend avoiding the Daily Mail and Express if you can.

Much love

Really, you think the current green movement that the EU have wholesale bought into isn't a threat? You think that the continued interference of the EU on things like crash legislation or emmissions is all made up too? These changes are already having a massive impact on the automotive industry and the cars they are allowed to produce.

I predict the Ring will cease to exist in it's current "turn up and drive" format within the next 10 years at most.

Edited by Guvernator on Tuesday 17th July 13:16

[JonathanLegard]

Yorkshirepud said:

At least it will put an end to all cars getting their suspension setups tuned there.

And hopefully an end to people parroting James May's ill-informed tosh.

[Mermaid]

Guvernator said:

...I predict the Ring will cease to exist in it's current "turn up and drive" format within the next 10 years at most.

That's possible - reserved for industry, motor sport & recognised driving schools/organisations.

[StottyZr]

Yorkshirepud said:

At least it will put an end to all cars getting their suspension setups tuned there.

Oh great we'll be left with soft comfortable suspension aimed at all you old codgers complaining your back hurts.

[avelkov]

Guvernator said:

My worst fear is that the EU may just be using the Rings current financial woes as an excuse to shut the place down. I can't imagine a place that allows people to just turn up and drive cars very fast with little in the way of legislative involvement is very popular with the bureaucrats in Brussells. In fact I'd imagine there are quite a few EU greenies and Health and Safety nannies who are probably apocaleptic at the continued existence of the place.

It's hard to argue against the ring from a health and safety perspective. If we don't get our fix there, we'll get it on the B-roads - and the latter is much more dangerous. And let's face it - if you're there, you kinda know the risks.

As for the environment, the real problem is scale - for every 911 Turbo on the road, there are 30 Mondeos, Corollas, Astras, whatevers - all of which do twice as many miles a year and collectively damage the environment much more. The difference that stopping the 'Ring would make to Europe's emissions would get lost in the rounding error - and besides, as per my point above, we'll just take our business elsewhere.

That said, if they turned it into a pure race track with no TF days, that could work well too. Imagine more track days, with no bikes, no insurance worries and a sane number of cars there on the day - that wouldn't exactly be a bad outcome.

[PastorOfMuppets]

Get Danny Bahar in there - he'll sort it out!