Super Street Network

 |   |   |  Nurburgring Sold to German Auto Parts Company

Nurburgring Sold to German Auto Parts Company

Capricorn Group buys famed Nurburgring for more than 100 million euros

Karla Sanchez
Mar 11, 2014

Just when we thought American investor group HIG Capital had it in the bag, German auto parts company Capricorn Group swooped in and won the bid for the famed Nürburgring. The company secured ownership of the 13-mile Nürburgring and all its 170 turns by paying more than 100 million euros (about $138.6 million) for the track.

Seat Leon Cupra 280 prototype Nurburgring front Photo 2/3   |   Seat Leon Cupra 280 Prototype Nurburgring Front

The Capricorn Group is a medium-sized business that specializes in automotive and aviation products and services, and it's become very familiar with the Nürburgring over the years. The company opened a production plant near the 'Ring in 2002, and its managing directors have always had a passion for the famed track. With that, Capricorn Group has invested 25 million euros ($34.7 million) of the 100 million it initially paid to expand the track into an "Automotive Technology Cluster." The Automotive Technology Cluster will focus on automotive technology and innovation with "the formation of networks with universities and colleges and leading companies in the automotive sector," while also helping spur economic development by creating several new jobs in the area.

Porsche 918 Spyder on Nurburgring rear side view Photo 3/3   |   porsche-918-spyder-on-nurburgring-rear-side-view-2

With the expansion will come structural changes, one of which includes knocking down the Formula 1-themed rollercoaster. The Eifeldorf Grune Holle hotel won't be around for much longer either, as the company has planned to make it the future site of the Automotive Technology Cluster. Capricorn Group will take full ownership of the 'Ring in January 2015, but until then, the track will continue with its regular racing, events, and hotel operations.

Source: Nürburgring

By Karla Sanchez
29 Articles

BROWSE CARS BY MARKET

MORE FEATURES

Preview the October 2016 issue of european car Magazine, with first drives of the latest S8, S5, XE, C300 & others, an exclusive look at the AM-RB 001, going behind the scenes at Brabus, and more
Bob HernandezSep 23, 2016
There are times in life when you're presented with hardships that you aren't exactly prepared for.
Big MikeSep 23, 2016
Registration is now open for the erstwhile Tuner GP, the 2016 european car Magazine 2.0T GP presented by Continental Tire
Bob HernandezSep 23, 2016
It's that time again. This year, 12 sports cars, pony cars, and grand tourers -- and one extremely powerful sedan -- face off in World's Greatest Drag Race.
Alex NishimotoSep 23, 2016
The Honda S Dream became the fastest Honda ever by recording a run of 261.875 mph at Bonneville. More impressively, it did it with only three cylinders.
Alex NishimotoSep 23, 2016

SEARCH ARTICLES BY MAKE/MODEL

Search
TO TOP