• German Grand Prix

Nurburgring future in doubt

ESPN Staff
July 18, 2012 « Vettel 'honoured' by Ferrari interest | New race hosts get 69% increase in tourism »
The Nurburgring underwent a substantial redevelopment in 2009 but the circuit owners are struggling to pay off the cost © Sutton Images
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The future of the Nurburgring is in doubt after the circuit owners were denied a €13 million subsidy from the European Commission.

Reports in the German media claim that the circuit's holding company - Nurburgring GMbH - is now on the brink of administration. Nurburgring GMbH owes the Rhineland Palatinate state bank over €300m as a result of the redevelopment of the circuit in 2009 but Ernst & Young have valued the facility at just €126m.

Should the company go in to administration, then the administrators would become responsible for all existing contracts - including the German Grand Prix which it hosts alternately with Hockenheim.

Previously, Hockenheim has said that it could not permanently host the race, but managing director Georg Seiler has said that the circuit is now in a position to do so if required.

"At present there is no request," Seiler told Auto Motor und Sport. "But if there is one, I do see a possibility that F1 comes back every year at Hockenheim. But then everything would have to agree: the cost side, the contract, the policy and much more. I do not know if this is all so easy to fulfil. Still, we would be happy if we would continue the alternation."