The desperate Nurburgring circuit has just received a lease on life. Last month, Rhineland-Palatinate state governor Kurt Beck announced that the Nürburgring faced imminent insolvency by the end of July. The government of the German state of Rhineland-Palatinate is set to make hundreds of million of euros available to the Nürburgring. This will guarantee that a loan be partially paid, making it possible for the Nürburgring to continue to operate.
Down to the wire, Germany's Deutsche Welle reported today that West German officials have finally settled on a decision to assist the track's financial burden after a special meeting with the state legislature's budget and finance committee. A 254 million euros ($312 million) loan for the circuit from Rhineland-Palatinate will enable Nurburgring GmbH, the company that operates the track, to service a 330 million-euro bank loan that will allow Nurbrugring to continue its operation.
Despite the good intentions of keeping the circuit alive, a number of CDU makers cautiously advocated to delay the decision over concerns that the state credit might be illegal under European competition laws. Ultimately, state financial minister Carsten Kühl ignored the concerns and pushed the loan foward, accepting responsibility for the affair should it cause controversy in the future.
Also supporting the 'Ring is racing team Schubert Motorsports, which will be fielding a very special GT3 class BMW Z4 for the Nurburgring 6 Hours Endurance event. Honoring the Nordschliefe circuit, the Schubert Motorsports Z4 will feature a special "Ja zum Nurburgring" decal which roughly translates to "Yes to the Nurburgring."
Nurburgring's financial crisis started to deepen when an ambitious project to expand a leisure park with restaurants, hotels, and even a roller coaster, took hold of the circuit back in 2007. Initially, the project was estimated to cost €215 million but as development continued, expenses quickly escalated to over €400 million, doubling the initial estimate.
