Close

Results 1 to 16 of 16
  1. #1
    Join Date
    Jan 2010
    Location
    SoCal
    Posts
    117,699
    Rep Points
    31,533.4
    Mentioned
    2064 Post(s)
    Rep Power
    316


    1 out of 1 members liked this post. Reputation: Yes | No

    The Nurburgring is officially bankrupt - Track in danger of being shutdown without investment, EU to not help

    This is a tragedy. And no, we are not using that term loosely as the Nurburgring is arguably the most famous roadcourse in the world. A quick Nurburgring laptime gets respect from the everyone in the automotive world and is a source of pride as well as competition. The problem is a 524 million Euro injection by the state for amusement parks and hotels to develop the ring as a tourist destination has not paid off.

    The interest on the loan can not be paid off and it will take at the least 13 million Euros to keep the Nurburgring afloat. How money management this poor took place we have no clue. What we do know is the EU will not be bailing the track out. The thought of losing the ring is almost unfathomable but that is the potential reality at the moment. The track will be open through 2012 as the court and bankruptcy process proceeds.

    Click here to enlarge


  2. #2
    Join Date
    Feb 2010
    Location
    NJ
    Posts
    13,460
    Rep Points
    58.0
    Mentioned
    318 Post(s)
    Rep Power
    0


    Reputation: Yes | No
    someone will pony up and buy it.

  3. #3
    Join Date
    Nov 2009
    Posts
    1,040
    Rep Points
    938.4
    Mentioned
    15 Post(s)
    Rep Power
    10


    Reputation: Yes | No
    Wow....although I am glad to see governments not bailing out failing businesses. A refreshing change to say the least.
    ​#Chuckstrong

  4. #4
    Join Date
    Sep 2011
    Location
    Land of fire and ice
    Posts
    162
    Rep Points
    166.3
    Mentioned
    4 Post(s)
    Rep Power
    2


    Reputation: Yes | No
    The Nurburgring is not about to close down.

    A company may be going under but the show will go on.

  5. #5
    Join Date
    Jan 2010
    Location
    SoCal
    Posts
    117,699
    Rep Points
    31,533.4
    Mentioned
    2064 Post(s)
    Rep Power
    316



    Reputation: Yes | No
    Click here to enlarge Originally Posted by LostMarine Click here to enlarge
    someone will pony up and buy it.
    I don't think there is any way they can just let the world's most famous roadcourse disappear.

  6. #6
    Join Date
    Nov 2009
    Posts
    1,040
    Rep Points
    938.4
    Mentioned
    15 Post(s)
    Rep Power
    10


    Reputation: Yes | No
    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    I don't think there is any way they can just let the world's most famous roadcourse disappear.
    Maybe the auto makers could bail someone out for a change?
    ​#Chuckstrong

  7. #7
    Join Date
    Sep 2011
    Location
    Land of fire and ice
    Posts
    162
    Rep Points
    166.3
    Mentioned
    4 Post(s)
    Rep Power
    2


    Reputation: Yes | No

  8. #8
    Join Date
    Jan 2010
    Location
    SoCal
    Posts
    117,699
    Rep Points
    31,533.4
    Mentioned
    2064 Post(s)
    Rep Power
    316



    Reputation: Yes | No
    Click here to enlarge Originally Posted by KB Click here to enlarge
    Maybe the auto makers could bail someone out for a change?
    That would be refreshing.

    Would like to see BMW, Mercedes, Porsche, Audi, etc., all get together and make this happen.

  9. #9
    Join Date
    Jul 2011
    Location
    The world...
    Posts
    1,331
    Rep Points
    1,202.2
    Mentioned
    8 Post(s)
    Rep Power
    13


    Reputation: Yes | No
    sad sad sad

  10. #10
    Join Date
    Nov 2009
    Posts
    1,040
    Rep Points
    938.4
    Mentioned
    15 Post(s)
    Rep Power
    10


    Reputation: Yes | No
    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    That would be refreshing.

    Would like to see BMW, Mercedes, Porsche, Audi, etc., all get together and make this happen.
    They should seeing that ring times are the main advertisement for all auto makers sports cars, American included.
    ​#Chuckstrong

  11. #11
    Join Date
    Jan 2010
    Location
    SoCal
    Posts
    117,699
    Rep Points
    31,533.4
    Mentioned
    2064 Post(s)
    Rep Power
    316



    Reputation: Yes | No
    Click here to enlarge Originally Posted by KB Click here to enlarge
    They should seeing that ring times are the main advertisement for all auto makers sports cars, American included.
    Porsche just bought the Nardo ring so I guess it is possible.

  12. #12
    Join Date
    Apr 2010
    Location
    HG Motorsports
    Posts
    385
    Rep Points
    512.7
    Mentioned
    1 Post(s)
    Rep Power
    6


    1 out of 1 members liked this post. Reputation: Yes | No
    For those of you who don't know how they $#@!ed up this bad, basically they built a theme park and hotels and stuff using data that showed a certain number of people came to the Nürburgring each year. The problem is, that data was bull$#@! because the previous owner of the Nürburgring was using it to launder money. For example, if 10,000 people attended a race and each paid $10 (pulling numbers out of the air) instead of showing $100,000, they would pretend like 40,000 people showed up and would be able to launder $300,000 of illicit funds through the ring.

    So basically, they thought a ton of people were visiting the ring so they built a huge park, hotels, etc. but there aren't enough people who visit these attractions for them to even break even. That's why the place is bleeding money.

  13. #13
    Join Date
    Jun 2011
    Location
    Pittsburgh, PA
    Posts
    804
    Rep Points
    641.4
    Mentioned
    6 Post(s)
    Rep Power
    7


    Reputation: Yes | No
    Crazy.

  14. #14
    Join Date
    Jul 2012
    Posts
    18
    Rep Points
    45.7
    Mentioned
    1 Post(s)
    Rep Power
    0


    Reputation: Yes | No
    I bet I could make them money.

  15. #15
    Join Date
    Nov 2010
    Location
    le Paris
    Posts
    6,653
    Rep Points
    -230.0
    Mentioned
    48 Post(s)
    Rep Power
    0


    Reputation: Yes | No
    Click here to enlarge Originally Posted by Nine Click here to enlarge
    I bet I could make them money.
    By turning the place into a kalleh pazi and serving kalleh pacheh there? lol Click here to enlarge
    Click here to enlarge Originally Posted by Remonster Click here to enlarge
    For those of you who don't know how they $#@!ed up this bad, basically they built a theme park and hotels and stuff using data that showed a certain number of people came to the Nürburgring each year. The problem is, that data was bull$#@! because the previous owner of the Nürburgring was using it to launder money. For example, if 10,000 people attended a race and each paid $10 (pulling numbers out of the air) instead of showing $100,000, they would pretend like 40,000 people showed up and would be able to launder $300,000 of illicit funds through the ring.

    So basically, they thought a ton of people were visiting the ring so they built a huge park, hotels, etc. but there aren't enough people who visit these attractions for them to even break even. That's why the place is bleeding money.
    I've heard that too.

  16. #16
    Join Date
    Jan 2010
    Location
    SoCal
    Posts
    117,699
    Rep Points
    31,533.4
    Mentioned
    2064 Post(s)
    Rep Power
    316



    Reputation: Yes | No
    Click here to enlarge Originally Posted by Remonster Click here to enlarge
    For those of you who don't know how they $#@!ed up this bad, basically they built a theme park and hotels and stuff using data that showed a certain number of people came to the Nürburgring each year. The problem is, that data was bull$#@! because the previous owner of the Nürburgring was using it to launder money. For example, if 10,000 people attended a race and each paid $10 (pulling numbers out of the air) instead of showing $100,000, they would pretend like 40,000 people showed up and would be able to launder $300,000 of illicit funds through the ring.

    So basically, they thought a ton of people were visiting the ring so they built a huge park, hotels, etc. but there aren't enough people who visit these attractions for them to even break even. That's why the place is bleeding money.
    Huge mess...

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts
  •