Germany’s famed Nürburgring will be sold to an American investment firm later this month, according to a report out of Reuters via Road & Track.
For the past two years, the ‘Ring has experienced a slew of financial troubles stemming from poor investments, including the building of expensive real estate and even a theme park. Local initiatives have kept the track open up to this point, but now, a group of investors from Miami-based HIG Capital are willing to purchase the track for anywhere between 60 and 70 million euro (US$82,464,000-$96,208,000).
The offer has been tentatively accepted by the German government, the current owners of the track. Originally, Nürburgring trustee Jens Lieser was reportedly looking for a larger deal, but given that it has taken two years to find a buyer, it’s unlikely the deal will be turned down. The German Federal Ministry for Economic Affairs will finalize the sale by the end of this month.
