Nurburgring applies for bankruptcy

[martinfan5]

From Topgear.com

http://www.topgear.com/uk/car-news/nurburgring-applies-for-bankruptcy-2012-7-19

In what possibly only James May would describe as good news, the state-owned company that runs the Nurburgring is making noises about applying for bankruptcy.

The legendary 14 mile public track in Germany – a large poster of which festoons the lift to the Top Gear office – has been in financial trouble for some time, but today confirmed that its request for help from the European Commission was unlikely to be approved in the short term.

According the Rhein Zeitung newspaper in Germany, the company running the complex (which included an ill-fated leisure add-on) is now around 413 million Euros in debt.

The state premier of the Rhineland Palatinate government said: “with greatest probability, bankruptcy would be applied for at the end of the month due to lack of liquidity.”

James is on the record decrying the rock-hard handling that comes from manufacturers’ recent addiction to testing their road cars at the ‘Ring, but this is decidedly sad news for any car fan.

Nothing has yet been decided in the long-term, but it’s not looking good for the Green Hell. Perhaps this weekend’s German Grand Prix could feature a few rattling collection tins?

Sad day indeed

[Scuderia]

I can't imagine it going away certainly. But with Mercedes adorning the Hockenheimring, maybe BMW can step in and assist. They are ablazoned on the GP circuit if i recall.

[martinfan5]

I dont either, I am sure something good will happen, heck almost every car manufacturer on the planet test cars at the ring, including US cars, so I cant see it going away

[Junkman]

Not only can I see it simply cease to exist in today's world, but I'm actually surprised that it lasted this long.

People had fun there doing something dangerous involving burning petrol and creating CO2. How many more nonos do you want in one sentence?

The powers that be probably just waited for the GmbH to go belly up, so they can convert it into a nature reserve.

Not sure if you heard about the current Hockenheimring scandal overshadowing the German Grand Prix?

I bet its days are numbered, too.

[Junkman]

What perplexe's me is, it's a public road, right? Why is it private hands? A public road is owned & maintained etc by the State/City Government... Well they are down my neck of the woods. Secondly, just how in the "green-hell" can they be in debt $413 Euros??? WTF! That's over half a Billion u.s! WTF! The road's only 7miles long right?

:-€ Dan

It's called 'fraud', 'corruption' and 'nepotism'. What besides being indebted by half a billion do you expect anything 'public' to be? But debts are never a problem, unless 'they' want to do away with something.

The 'Ring is public, i.e. owned by the country of Rhineland-Palatinate, but the 'organisation' and 'operation' has been outsourced to a 'private' (cough, cough) company a few years ago under one of crook Ecclestone's scams, which involved 26 million Euros in bribe money. They are currently trying to pull the same trick with the Hockenheimring (46 million bribe money this time), so that's going to file for bankrupcy within the next few years.

The scam is easy: You take over a public race track with a 'private' organisation, then just pocket huge sums of money which are going to be backfilled with taxpayers' money for a few years (the latter is partially done via the banksters, to make it less obvious. The banks shell out the money, then get 'bailed out' (hahaha) with tax money). Once the flow of tax money stops or gets interrupted, you file for bankrupcy and close the whole thing down. But you walk away with tens of billions.

Edited July 20, 2012 by Junkman

[Guest Johnny]

Not only can I see it simply cease to exist in today's world, but I'm actually surprised that it lasted this long.

People had fun there doing something dangerous involving burning petrol and creating CO2. How many more nonos do you want in one sentence?

The powers that be probably just waited for the GmbH to go belly up, so they can convert it into a nature reserve.

Not sure if you heard about the current Hockenheimring scandal overshadowing the German Grand Prix?

I bet its days are numbered, too.

Only in mans vain little mind can he create enough CO2 to even begin to change the enviroment! Nature can produce more in volcanic eruptions each year than the entire industrial revolution!

If it is like any other venture of this sort that goes belly up you can bet someone is walking away with full pockets.

[Junkman]

Only in mans vain little mind can he create enough CO2 to even begin to change the enviroment! Nature can produce more in volcanic eruptions each year than the entire industrial revolution!

If it is like any other venture of this sort that goes belly up you can bet someone is walking away with full pockets.

We all in here know the facts. But the majority of the population are controlled lemmings brainwashed into believing the global warming scam. Hence they approve of closing a race track as if that would make a bloody difference.

Anyway, the 'Ring fell victim to a financial fraud scheme for which now a warrant is out in Germany for Ecclestone.

Edited July 20, 2012 by Junkman

[sjordan2]

It just gets curioser and curioser.

http://www.dw.de/dw/article/0,,16113380,00.html