The Nürburgring motorsport complex in Germany has a new owner. We talk about a German corporation specialized in the production of auto parts, heavily involved in tests and competitions on the famous circuit, called Capricorn Group.
Nürburgring, the famous German circuit dubbed the “Green Hell”, was bought by the Düsseldorf-based automotive supplier Capricorn. The new owner will keep the complex circuit in its current form and will continue to allow public access, preserving all the events related to the circuit itself in the form as they were before the acquisition. However, they will close the hotel compound and the amusement park attached to the circuit.
Nürburgring and the Capricorn Group
Capricorn Group in Germany is specialized in the production and development of auto and motorcycle parts to enhance dynamic performances. The company works for the auto and aerospace industry, but also produces crankshafts and camshafts, cylinder liners, pistons and connecting rods.
The involvement of the Capricorn Group in buying the Nürburgring is quite important, the company stating that that they run tests on the circuit for over 20 years. More than 100 employees from the total of 350 of the Capricorn Group are working at the test center in Nürburgring.
The Capricorn Group offer exceeded the proposals of other interested parties (HIG Capital – USA; Bernie Ecclestone), involving the complex acquisition for 100 million Euros and an upfront investment of 25 million Euros in expanding the circuit. In addition to the existing business on the ring, the company wants to develop a so-called technology cluster there.
The creditors had opted for the “slightly better concept,” said Jens Lieser, the administrator of Nürburgring GmbH.
Currently, the Nürburgring circuit hosts the Formula 1 German Grand Prix every two years, together with Hockenheim, but the race was in jeopardy in recent years because of the serious financial problems of the organizers. The last Formula 1 race run on the famous Nordschleife took place in 1976 when Niki Lauda had his famous accident.
Nürburgring via Der Spiegel | Die Welt