Nürburgring Round In Circles

In March, a collection of private investors headed by German auto parts maker Capricorn bought the circuit out of bankruptcy for euro 100 million ($136 million), which immediately attracted the attention of the European Commission.

The EC took the view that the reported euro 465 million ($580 million) that the federal government of Baden-Württemberg had ploughed into the site amounted to illegal state aid, but it still said the sale to Capricorn should stand.

However, in the middle of last month the administrators that had sold the motor racing track to Capricorn issued a statement saying it looked unlikely that the German car parts firm could come up with the next euro 5 million ($6.2 million) installment of the purchase price. If Capricorn fails to come up with the money, the administrators are legally bound to re-take control and re-open the bidding process for the Nürburgring.

This will be of little consequence to the Schwenkow-led group that’s now set to stage its new Green Hell festival on the site May 29-31 because it originally secured The Ring from Lieberberg by offering the administrators a better price for it.