The Nurburgring has been sold to a German car parts company in a deal worth a reported 100 million euros (£84million), two years after it first went up for sale.
The buyers of the circuit, the Capricorn Group, has seen off rivals bids from the likes of Bernie Ecclestone to purchase the track and has promised an investment of 25 million euros (£20million) to improve the site.
The sale includes not only the infamous 12.9-mile 'Green Hell' circuit, but also the smaller Grand Prix track, which has alternated with the Hockenheimring to host the German Grand Prix since 2009.
Although the Nurburgring has had a difficult few years financially, having gone bankrupt in July 2012, it's hoped that the new deal will provide stability to one of the world's most famous and feared racing venues. The Capricorn Group will take over the track officially on 1 January 2015.
It has also been reported, but not confirmed, that the track will remain open for public use under the new owners.
Click here to sign up for our monthly newsletter
| Popular news stories |
||||||
 |
 |
 |
 |
|||
