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The Ring in bankruptcy

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http://www.autoblog.com/2012/07/17/nurburgring-goes-bust-eu-not-planning-to-help/

A day of infamy! I sure hope someone will come to the recue. Of all the race tracks i have driven and raced on, there is nothing, and I mean nothing like the Nurburgring . If all of us enthusiasts around the world contributed one single dollar each, the Ring would be saved. Where can i send my money and who will join me?
 
=( It was the first my first track.... hope someone or some great companies step up and take ownership.... It would be good to see a collaboration of all automobile manufacturers sponsor the track and keep it open. :biggrin:
 
I'm just wondering why they went BOOM.
German politicians were seeking millions from the EU to help out, what a joke! Germany is seeking money for a track while it tells the Greeks, Spain and all the others to cut wages, spending and more. :rolleyes:
 
The reason the Nürburgring went bankrupt is because they built a hideously expensive amusement park, etc. on the site that not enough people visited. People went there for the racetrack.

And Germany isn't seeking millions from the EU. Germany wanted approval from the EU to spend 13 million Euros on the Nürburgring to prevent it from going bankrupt. The EU said no. Germany has sent billions upon billions of Euros to the Mediterranean countries but I guess it's unacceptable to carry out bail-outs within your own borders.
 
The racetrack is still going to be there. I think the management wanted to turn it into a destination for the whole family. While dad is driving the Ring the kids can enjoy the amusement park and the wife can go to a restaurant or maybe do some shopping. Oh well. That didn’t go quite as planned. But with new management or not, the racetrack is still going to be there.
 
Only $13 million Euros? How about Oracle picks up the tab and pastes its flags all over the Ring? Perhaps the Ring should also raise the admission fee.
Steve
 
The reason the Nürburgring went bankrupt is because they built a hideously expensive amusement park, etc. on the site that not enough people visited. People went there for the racetrack.

And Germany isn't seeking millions from the EU. Germany wanted approval from the EU to spend 13 million Euros on the Nürburgring to prevent it from going bankrupt. The EU said no. Germany has sent billions upon billions of Euros to the Mediterranean countries but I guess it's unacceptable to carry out bail-outs within your own borders.
The Nürburgring GmbH made an economic mistake of over-guessing the demand for amusement-parks, hotels and so on, that's true. You're right that they only asked the EU to loan them 13 millions. But why asking the EU? The EU has other problems than a misinvestment in amusement parks. Why can't Rheinland-Westfalen cope with a silly amount of 13 millions?
 
Only $13 million Euros? How about Oracle picks up the tab and pastes its flags all over the Ring? Perhaps the Ring should also raise the admission fee.
Steve
Admission fee's where rising out for years due to the mismanagement
iirc the went up 25% in a three years.

But it will come back even if the auction it off it should be a viable endeavor for a properly manged company if the start over.
That being said this is catastrophic for the local economy and all the manufacture test centers.
 
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I don't see a problem, only a political. This is political fail at it's best. The track and the amusement parks have to be split like they had years ago when the megalomania began. Let the track have it's own accounting and sell the amusement parks for a single Euro. :)
 
The Nürburgring didn’t ask the EU for money. They asked the German government for money. The German government wanted to give it to them but they need to get approval from Brussels before disbursing the funds. And Brussels refused. German money can only used to bail out Greece, Cyprus, Portugal, Ireland, Spanish banks, etc., it seems. If you join the EU, maybe you’d be the ones allowed to bail out German companies!

But yeah, it turned out to be a bad management decision to try and turn the Ring into a family destination with an amusement park, movie theatre, etc. I agree – split all that stuff off, fire the managers responsible for wasting money on non-core activities, and focus on having the Nürburgring simply be a racetrack. If the most efficient way to shut down all the loss-making activities is to let the whole thing go bankrupt first like GM – so be it.
 
The Nürburgring didn't ask directly, that's correct. But it doesn't make a difference if the ask the Geman government to ask the EU to allow it. Bruessel didn't decide. According to their lightyears long decision process they didn't even decide. It simply took too long for the Nurburgring.

But as you say it sometimes needs a bankruptcy to sort things out.

Switzerland will - even though in the middle of Europe - NEVER EVER join the EU. We're simply too smart to swallow the poisened pill. :)
 
yikes! Although I was tempted to visit the ring while out there, this just may force my hands to drive it!

anyone been? preferred rentals? rates? oh what I wouldn't give to drive the nsx there :biggrin::biggrin::biggrin:
 
Switzerland will - even though in the middle of Europe - NEVER EVER join the EU.

We'll see. That would be like Kansas refusing to be part of the USA. You’re already sending money to Brussels, adopt its laws, have scrapped border controls, etc. You practically already are a member of our little confederation.:smile:

anyone been? preferred rentals? rates?

Here you go: http://www.nuerburgring-shop.de/fahraction/touristenfahrten.html?___store=en&___from_store=en

The German and British NSX clubs usually organize annual pilgrimages to the Nürburgring so maybe you could check that out, too.
 
We'll see. That would be like Kansas refusing to be part of the USA. You’re already sending money to Brussels, adopt its laws, have scrapped border controls, etc. You practically already are a member of our little confederation.:smile:
We only overtake the reasonable things and avoid the overwhelming bureaucracy. We won't be a member because it would mean to overtake all laws and send all our money from/to Brussels. We'll remain an isle in the surrounding Euro-desaster. :) Joining the EU would be like Obama doubled the taxes. :)
 
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That's where all the millions for Mr. Ecklestone are comming from. :tongue::D
 
As I understand it, the revenue and attendance forecasts were massively exaggerated. The idea for an amusement park (the place reminded me of Honda's Mobility Land at Suzuka) is great and all but sooner or later, they were bound to "face the music." Maybe the gamble would have worked in a robust worldwide economy but, even then, I can't see them not getting prosecuted for criminal financial negligence.
 
The Ring in bankruptcy

Every time I see this in the list of topics, both the username and topic title make me think of the sport of boxing. I know the title refers to the Nurburgring rather than the popular magazine about pugilism, and I know Tino's username refers to the engine design of certain Ferrari models rather than those who engage in the "sweet science", but still, that's what I think of. :)
 
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This is not the same and never will be but, there are real plan just outside of Las Vegas for a safer 7 mile track. SMMR will have a 6 mile of track on 313 acre by this Oct.

http://www.springmountainmotorsport...tain-motorsports-ranch-spring-2012-newsletter

LVPCA will have a track weekend in Oct using using "some" of the added track. No walls or trees so you can go at 100%. The Ring is way too much for me.

Lance
 
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