Tempest 0 Posted July 18, 2012 Just appeared in the German press: A request by the Nürburgring for 13 million Euros financial aid from the EU has been rejected by Brussels. The Nürburgring needs to soon pay back interest on a 330 million Euro debt they have with the state banks. Brussels now also invstigating all the state aid that the Ring has already received (524 million Euro) because it perceives this state aid as illegal. Looks like the liquidator will have to step in, all races and events for this season are safe-guarded, but next season is a different story. Might put in an offer with the liquidator myself, £2 for the Ring, just like ING took over bearings Bank for £1 many years ago. ;) Tempest Quote Share this post Link to post Share on other sites
VR6 0 Posted July 18, 2012 That place is like a licence to print money. They must have royally ballsed things up. Quote Share this post Link to post Share on other sites
Kevin Bacon 5 Posted July 18, 2012 How the hell can a peice of road need 524 million Euros? What exactly do they do with that money? Doesn't look like it ever gets resurfaced etc and prangsters pay for any damage....so....?? Quote Share this post Link to post Share on other sites
Jim 2 Posted July 18, 2012 It's the asshole investors who took over the ring and decided to turn it into a shopping centre, amusement park and hotel complex - which consequently no-one used / went to and they lost money hand over fist. Hopefully all that crap will get pulled down and the ring returned to what it always was with none of the guff attached to it! Quote Share this post Link to post Share on other sites
VAG-hag 0 Posted July 18, 2012 Im with you Jim. Id like to see the museum but I believe it was part of the original setup anyway. Eric, do you know if public days for this year will be running still, anything mentioned in the press? Quote Share this post Link to post Share on other sites
lilfuzzer 1 Posted July 18, 2012 true story vaghag as maybe a problem :( ---------- Post added at 8:06 PM ---------- Previous post was at 8:05 PM ---------- need to finish car to make sure it goes on!!!! Quote Share this post Link to post Share on other sites
Jim 2 Posted July 18, 2012 Pleased I've been round it a couple of times now.. at least if the worst happens I can say I went in better times! Quote Share this post Link to post Share on other sites
Tempest 0 Posted July 18, 2012 Nothing specifically mentioned in the article I read regarding the public car runs. I assume that these should be safe-guarded, too, like all events this year. Tempest ---------- Post added at 11:01 PM ---------- Previous post was at 10:27 PM ---------- Just read a bit more on some German news sites: The state of Rheinland-Pfalz, 90% owner of the Ring, reckon the Ring could go into liquidation end of this month. The prime minister of Rheinland-Pfalz, Kurt Beck (Labour), is under fire by the opposition, who, as to be expected within the Kindergarten-spectacle commonly referred to as politics, and requested to resign. Kurt in turn blames the EU/Brussels for giving billions to banks but not a few million to him. Mudfest :lol: F1 in 2013 may be under threat, but the actual managing company, owned by 2 Düsseldorf investors (one owner of a big German hotel chain), have more or less agreed in talks with the F1-money-shark himself, Ecclestone, to let Ecclestone run the F1 show in 2013, but that also means that Mr Money-Shark gets all the proceeds, leaving nothing for the Ring and/or the owners of the Ring. Part of the reason why the Rin g is bust is that the previous private company running the Ring didn´t keep up with paying their lease fees to the state of Rheinland-Pfalz and hence were kicked out. The state is still waiting for these payments. Tax payer overjoyed of course! See, even the infallable Germans make all the same mistakes that we´re used to in our British politics. So, no idea whether the ¨Touristenfahrten¨ (open access runs for private cars) will still be available end of August. Tempest Quote Share this post Link to post Share on other sites
Yandards 0 Posted July 19, 2012 Its not only that, I suspect in the current Ring tourism has dropped off quite a bit through the sheer cost of fuel etc.. Oh well if it does go down the pan I will have some happy memories of it. Quote Share this post Link to post Share on other sites
Kevin Bacon 5 Posted July 19, 2012 It's the asshole investors who took over the ring and decided to turn it into a shopping centre, amusement park and hotel complex - which consequently no-one used / went to and they lost money hand over fist. Hopefully all that crap will get pulled down and the ring returned to what it always was with none of the guff attached to it! Ahh, I see. Cheers Jim. I've never been there and only seen the road itself on TV etc, which looks a bit shabby and graffitied in places? Hence not understanding where all that loot went! Quote Share this post Link to post Share on other sites
Tempest 0 Posted July 19, 2012 Indeed as Jim mentioned, this Kurt Beck's pet project was in actual fact back in 2007 to convert the Ring into the sort of Disney World style theme park that it is today, costing way more than planned (another no-surprise with government procured projects, they all go overbudget, see our own HS1 train connection London to Folkestone to name one of many). To be fair back in 2007 the Ring was starting to suffer financially due to car manufacturers, who were the main customers, starting to use the Ring less and less for testing cars, because they could do all that on computers instead, and the rest would be tested (like MS do with software) by the punter themselves, which certainly has proven to be true for cheap and mass-produced bread-and-butter cars. We now know that the decision to convert the Ring into a theme park was not the solution to this problem. Tempest Quote Share this post Link to post Share on other sites
dannyboy 0 Posted July 21, 2012 I love the ring but not going back again.twice there is enough for me,been there,done that,got the sticker.... I was thinking along the same lines as fishwick,how can a company that owns a road go bust? its a toll-road that nearly always gets used.insurance of prangers pays for damage.Costs over 22 euro a lap so wheres the money gone? Quote Share this post Link to post Share on other sites
seanl82 23 Posted July 21, 2012 Stewarding, on site ambulances, clerical admin, etc etc......... Not saying that would cost more than their income, but there are obviously expenditures there. Quote Share this post Link to post Share on other sites
Tempest 0 Posted July 22, 2012 Petition started in Germany to save the Ring: http://www.openpetition.de/petition/online/petition-zur-rettung-des-nuerburgrings Tempest Quote Share this post Link to post Share on other sites
