Germany's legendary Nürburgring has a new owner, again: Wirtschafts Woche, a German business newspaper, reports that Russian billionaire Viktor Charitonin has just taken over two-thirds of the partnership that owns the 'Ring. The ever-shifting ownership of the iconic racetrack continues.
Charitonin has reportedly taken over the two-thirds stake previously being pursued by Capricorn, a German automotive component supplier that won a last-minute €77 million bid for the 'Ring in March. Capricorn chief Robertino Wild is beset by financial problems that include the reported double-mortgage of his real estate and collection of fine art, and his company reportedly couldn't meet the financial obligations of its agreement.
GetSpeed, the one-third partner in the Nürburgring deal, is having financial problems of its own. After making the first payment of €5 million earlier this year, the company is now facing scrutiny by German financial officials.
Wirtschafts Woche reports that Charitonin has already made the next two payments required under the deal Capricorn struck with the German government. That's good news, as the German government previously indicated it would not provide for the 'Ring's operation costs or staff wages if Capricorn fell behind financially.
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But the fate of the famous circuit is still very much up in the air. Charitonin made his billions with Roman Abramovich and Evgeny Shvidler in Pharmstandard, Russia's largest pharmaceutical supplier. The oligarch seems to be a gearhead, running a 1935 Mercedes-Benz 500K in this year's Mille Miglia. But given the Nürburgring's unpredictable saga over the past few years, Green Hell fans probably aren't breathing any easier just yet.
from Car and Driver Blog http://ift.tt/nSHy27
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