Nürburgring, the legendary German circuit, has been suffering financial difficulties for several years already and has almost gone bankrupt. The governing body of Rheinland-Pfalz federal state, where the track is located, was trying to save the “Green Hell” from financial breakdown but it failed. Eventually, the racing venue was acquired by the Miami-based private equity company HIG Capital. According to different versions, the deal was done for about 60–70 million Euro.
The initial plan of the Nürburgring Automotive, the managing company, was to gain a much bigger amount of money. But as the asset did not turn out to be very popular, they decided that something is better than nothing and chose the most profitable offer. According to the conditions of the deal, the acquired property includes not only the track but also the near-by territory and hotels located there.
The sale of the track was initiated due to bankruptcy of the Nürburgring Automotive. Bidding for the complex was opened in May 2013. HIG Capital does not give any comment regarding the deal; the future of the legendary track is unknown.