Skip to main content

Nürburgring May Have Found Savior in Russian Billionaire

The Nürburgring is one of Europe’s longest running circuits and possibly its most famous. Despite that, it has long suffered financial difficulties. Just last year the German F1 Grand Prix was canceled due to those difficulties.

Now, though, there are hopes of a stable future for the track, thanks to a Russian pharmaceutical tycoon.

Forbes Russia reports that, thanks to a recent purchase of shares, Viktor Kharitonin now owns 99% of the track, with the remaining 1% going to Getspeed, a performance company near the track. Kharitonin already owned 80% of the motorsports complex, and reportedly purchased the remaining 19% for roughly $43M.

The investment should make the track more financially stable, and Khartonin has already expressed his desire to reopen talks with F1 boss, Bernie Ecclestone to bring the Grand Prix back.

The track has long been used by automakers to test their fastest cars. Its combination of tight corners, long sweepers, and enormous straights make it an attractive place to test fast road cars, like the Golf GTI Clubsport S.

Its fame also makes it popular with enthusiasts. VW, in fact, will be inviting GTI owners to the circuit later this year to celebrate the car’s 40th anniversary.

The track is as famous as it dangerous, though. In the past it was called the “green hell” and as recently as last year a spectator was killed at a race. It’s being reported that with the deal, safety improvements will consequently be a top priority.

 

The post Nürburgring May Have Found Savior in Russian Billionaire appeared first on VWVortex.



from VWVortex http://ift.tt/1WtuurJ
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Review: Saying Goodbye to the CC V6

For all its size and its global reach, Volkswagen is still, in many ways, a deeply human company. There was, for instance, the Bugatti Veyron an ego project if ever there was one. Then the purchase of Ducati, a move most called folly. And then there was the Phaeton, the Volkswagen that most folks can’t afford. Not only were these moves all strange, I’m sure that they made VW’s accountants furious. None of them made good business sense, but they were all deeply interesting and they all are evidence of the heart that beats at the center of VW. Among these follies is the CC, a car that everyone agrees is rakishly handsome, but that no one really wanted to buy. The car couldn’t last, but the world is brighter for its having been in it. With the approach debut of the Arteon, it seems like a good time to look back on its sadly departing predecessor. The version I drove, because I live in Canada, is a V6 Wolfsburg Edition, which apparently isn’t available in the States. Nor is the V6, not as...
Post a Comment
Read more

Mitsubishi admits it lied about MPG ratings for all vehicles in Japan

Filed under: Government/Legal , Green , Mitsubishi , Fuel Efficiency , Japan Mitsubishi says its shady fuel-economy test practices may have been used on all vehicles it sells and has sold in Japan. Continue reading Mitsubishi admits it lied about MPG ratings for all vehicles in Japan Mitsubishi admits it lied about MPG ratings for all vehicles in Japan originally appeared on Autoblog on Wed, 11 May 2016 12:36:00 EDT. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments from Autoblog Volkswagen http://ift.tt/21X3bHv
Post a Comment
Read more

More 3.0-Liter TDI Settlement Details Expected by January 31

Volkswagen and the TDI Plaintiff’s Steering Committee were in court today for another status conference following the agreement in principal reached earlier this week. Little new information was given at the conference held before Judge Charles Breyer today, but the court ordered the parties to develop a formal settlement agreement, class action notices, and a class notice plan by January 31, 2017. For now, though, owners still don’t know how much to expect in compensation. Elizabeth Cabraser, lead Counsel for the Plaintiff’s Steering Committee reaffirmed in a statement today that the compensation would be “substantial.” The potential cost to Volkswagen is widely reported to exceed $1 billion, though, with an additional $225 million going into an environmental trust to help offset excess emissions. Buy back offers are still only expected for the oldest 20,000 of the roughly 80,000 VW Group vehicles sold in America with the 3.0-liter TDI engine. Those vehicles are mostly SUVs, like ...
Post a Comment
Read more