Nurburgring deal possibly off again....WTH!?!?!?!

"Too many M's" (toomanyms) 10/01/2014 at 07:57 • Filed to: None

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Here's from motorsport.com:

The fate of the German Grand Prix venue at the fabled Nurburgring is once again in serious doubt.

Recently, we reported that after the embattled circuit was bought for a reported EUR 77 million, it was in the throes of promising talks with Bernie Ecclestone over a new long-term F1 race contract.

But it then emerged in late August that the buyer, a Dusseldorf company called Capricorn, had missed the deadline on its latest due payment to the Rhineland-Palatinate state.

"We still expect the sale to go ahead," a spokesman for the financial recovery experts in charge of the Nurburgring insolvency said at the time.

The new buyer is now being sought

But now, another alarming report about the health of the Nurburgring buyout deal has emerged.

The respected German business magazine Wirtschaftswoche claims Deutsche Bank has withdrawn its financing for the Capricorn transaction, meaning a new buyer for the Nurburgring is now being sought.

The news could become official later on Wednesday, when the European Commission rules on whether the Capricorn deal is even lawful.

Talks with alternative buyers

A spokesman for the liquidator told Wirtschaftswoche that he could not comment for reasons of "confidentiality".

Deutsche Bank also would not comment.

But the report said the liquidator has already been in talks with alternative buyers, last Thursday in Berlin and on Monday in London.

A spokesman for HIG Capital, a US-based group, said: "We have the money and we stand by our (previous) offer."

mcseanerson > Too many M's 10/01/2014 at 08:03

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Better go live the dream and get that nurburgring lap in before it's too late.

Too many M's > mcseanerson 10/01/2014 at 08:06

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I have a couple hundred myself, I just feel bad for those that haven't yet. :(

Mr. FiSTer of Team FiST Fetish > Too many M's 10/01/2014 at 08:08

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I haven't made it out there yet, I desperately want to but the timing hasn't worked out. And by the time I get back from my trip it'll be closed for the season I believe.

Too many M's > Mr. FiSTer of Team FiST Fetish 10/01/2014 at 08:11

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Last scheduled weekend is Dec 27-28 0900-1600.

Mr. FiSTer of Team FiST Fetish > Too many M's 10/01/2014 at 08:20

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I thought it was earlier than that, I'll definitely have time for it if it doesn't close until December.

Too many M's > Mr. FiSTer of Team FiST Fetish 10/01/2014 at 08:24

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That's what the schedule says...the weather might not be pretty but at least you'll get to drive the track. :D

extraspecialbitter > Too many M's 10/01/2014 at 09:25

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I've said it before and I'll say it again.

BMW/MB/VW joint venture. Why not?

Jobjoris > Mr. FiSTer of Team FiST Fetish 10/01/2014 at 09:54

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It's open in weekends for Touristenfahrten, even in the winter . NO MORE EXCUSES!!!

Mr. FiSTer of Team FiST Fetish > Jobjoris 10/01/2014 at 09:58

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Fiiiiine I'll go to the Nurburgring...

Too many M's > extraspecialbitter 10/01/2014 at 10:00

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Hey why not, throw some GM in there too since they just bent a new Z06 there.

Jobjoris > Mr. FiSTer of Team FiST Fetish 10/01/2014 at 11:09

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Any idea what car you're gonna bring?

Mr. FiSTer of Team FiST Fetish > Jobjoris 10/01/2014 at 12:01

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Well the only car I've got is the FiST so that'll have to do!

Jobjoris > Mr. FiSTer of Team FiST Fetish 10/01/2014 at 12:34

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Taking your own car is awesome!

There ain't much cars I've owned (pictured above my old Polo Abt GTI - 210bhp) I didn't track there but the first time is such an epic experience. Life-changing!