Nurburgring GmbH, the company that owns the lease for the German government owned Nurburgring circuit, has been the subject of bankruptcy speculation recently. At the start of the month, the speculation was ended by the announcement that the Rhineland-Palatinate’s state legislature would provide an extra 254 million Euros of state funds to secure the loan.
The loan will give the embattled owners enough breathing space to carry on running the circuit at least until next year. The loan is thought to have come as a direct reaction to Bernie Ecclestone’s warning that Formula 1 might not take place next year if the Nurburgring’s troubles weren’t sorted.
Securing the loan was no easy task though. Strong opposition came from the Christian Democratic party who voted against the loan and called for Social Democratic Party president Kurt Beck to resign. Beck has been a key figure in the fiasco, backing the failed plans to transform the German racing venue.
