Bernie: German GP in trouble

Thursday 06-March-2014 10:28

Bernie Ecclestone says the Nurburgring's future in F1 is in doubt after his offer to purchase the venue was rejected.

In recent years the Nurburgring has been forced to alternate the German GP with Hockenheim as both venues have suffered financial losses.

In an attempt to keep the Nurburgring on the calendar, Ecclestone put in a bid of $50m for the venue however it was rejected.

"The German Grand Prix is in trouble because they haven't got any money," Ecclestone told City AM.

"It is in trouble because it used to be supported by the council but now the European Commission has said people can't use that sort of money for this sort of thing.

"On Wednesday they are going to make up their mind whether to accept the offers. None is from me.

"When I go to an auction I want to leave a bid, which is what I did, and somebody could offer more. I don't know what's happening there."

He added: "I offered them $50m. You have got a massive facility, nice hotels, a lot of land, a lot of buildings and the race track. It's a good investment."

According to German weekly Wirtschaftswoche, American financial equity company HIG Capital is set to be named as the new owner having already "acquired major assets of the Nürburgring GmbH."

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