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It appears that the future of the Nürburgring is in doubt, as it surfaced today. The circuit owners were denied a €13 million subsidy from the European Commission. The Nürburgring track underwent a substantial redevelopment in 2009, but now the circuit owners are struggling to pay off the cost.
It has been claimed by the German media that Nürburgring GMbH, the track’s holding company, is on the brink of administration. Due to the redevelopment in 2009, Nürburgring GMbH owes the Rhineland Palatinate state bank over €300 million.
At the moment, Nürburgring hosts the German Grand Prix alternately with Hockenheim. Earlier, the Hockenheim circuit said that it was not able to host the German F1 race permanently; however, managing director Georg Seiler has said that the circuit is now in a position to do so if required.
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“At present there is no request,” Seiler said. “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 fulfill. Still, we would be happy if we would continue the alternation.”
The German Grand Prix will be held this weekend at Hockenheim. It will be round 10 of the 2012 Formula One World Championship.
