Germany-based Capricon group buys Nürburgring; Track to be functional

In a twist of tales, the infamous race track Nürburgring seems to have been sold to German based Capricon Group according to news reports. Last week we heard speculations about the track being sold to Miami-based company HIG Capital.

It seems Capricon trumped HIG Capital at the last moment to emerge the successful bidder. The track has been reportedly sold for 100 million Euro (Rs 846 crore) and an additional 25 million Euros (Rs 211 crore) has been allotted for the expansion of the track. Capricon makes engine components and is a 350 employees strong company out of which 100 work at a factory in Nürburgring.

Capricorn will soon launch a new company called Capricorn Nürburgringto be headed by Adam Osiekato run the show from January 1, 2015. They have plans to relocate the roller coaster to some other town, remodeling the Eifeldorf in a Silverstone-esque technology park and completely scrap the ring card payment system. 

"It was a very close thing," admitted boss-to-be Adam Osieka. "I haven't slept for two nights, and nothing was decided until the last moment."

It’s great news for motorsport fans people who swear by the ring, the race track will be functional and will be available for enthusiasts.