We are always writing article about this and that sports cars trekking around the famous Nürburgring course in Germany, which we have nicknamed the `Ring out of necessity. We have even seen some not-so-sporty cars lapping the ring, like a CR-V that found out it did not belong on a race track. We never really gave any thought to the financial health of our favorite circuit.
According to a report from Germany, the `Ring is in some serious financial trouble and is in need of a financial bailout. Officials running the Nürburgring have reached out to the European Union for a roughly €13 million bailout, but the EU has said “No way.” In addition to the denial of funds, there is also a pending investigation on a €524 million payment the `Ring and its surrounding attractions – an amusement park, mall and hotel – received.
The reasoning behind this investigation is that German Land Rhineland Palatinate (RLP) provided the €524 million in funds for the building of the aforementioned leisure activities under the guise of tourism. It was later found by the EU that the Nürburgring was already in financial chaos at that time and the funds are seen as a potential bailout, which requires EU approval.
Ultimately, the Nürburgring has already filed for bankruptcy and its future will be decided by either the courts or its new owners.
We knew that the `Ring was in some trouble back in 2010 when the Save the Ring group was formed, but we never would have expected this. We guess Porsche is likely happy with its decision to buy its own track, as the `Ring very well may not exist in just a few years. We hope that is not the end result, but it is a distant possibility.