This just appeared on the F1 website
The Nürburgring is bankrupt.
This is Kurt Beck, Minister President of Rhineland-Palatinate, announced Wednesday morning during a press conference in Mainz.
The circuit in the Eifel is unable to repay its debts and a request for financial assistance by the European Union has been rejected.
The circuit, which is ninety percent owned by the Rhineland-Palatinate, faces a debt of 300 million euros, following the substantial track renovation in 2009.
The German state was hoping to avoid a bankruptcy by an emergency loan of 13 million euros to ask the European Union, but Brussels is financial support to the circiuit not sit. Beck says it will not otherwise be able to drive on a controlled bankruptcy.
What are the implications for the Grand Prix of Germany, since 2008, alternating between the Nürburgring and the Hockenheimring is organized, is not yet known.
Next weekend the Formula 1 is at the Hockenheim circuit, there again next year can be raced or at the Nurburgring, is highly uncertain.
Hockenheim gave earlier is no longer able to organise the German Grand Prix every year,
but Hockenheim boss Georg Seller did not like that option, & said on Wednesday to exclude. “If this request is coming, I think it is possible to every year to have a race in Hockenheim. But then there are clear financial arrangements are made. I do not think it’s so easy going. We would however great find if the race would continue rotation. “
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