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It’s being reported that German engineering group Capricorn, which bought the operator rights to the Nürburgring earlier this year after the previous owner become insolvent, is facing financial troubles of its own and may have already sold the rights to the legendary race track to another party. The information was first reported by Wirtschafts Woche, which claims the new buyer is Russian pharmaceuticals billionaire Viktor Kharitonin.
It was only a month ago that Capricorn, along with its partner in the deal Getspeed, announced that regulatory bodies had approved its purchase of the operator rights to the Nürburgring. Capricorn owns two-thirds of the rights while the remaining share is with Getspeed. It’s being reported that Kharitonin’s interest is the share owned by Capricorn, which he reportedly acquired through his firm NH Holding.
We’ll update the story once more details are known.
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The Nürburgring race track itself is owned by the German government, with only the operator rights up for sale. Along with the track, there are various functions linked with the rights ownershipl including the organization of industry test days, motorsport events, and even the ill-conceived amusement park.
Before Capricorn’s purchase, the rights to the ‘Ring were owned by Nürburgring GmbH, which is believed to have run up debts as high as $500 million before declaring insolvency.