According to Forbes Russia, 43-year-old Russian billionaire Viktor Kharitonin has upped his stake in the Nürburgring to 99 percent.
The famous Nürburgring was having some major financial troubles back in 2014, but then came Viktor Kharitonin to the rescue and acquired an 80-percent stake. Co-founder of pharmaceutical company Pharmstandard, Kharitonin has now increased his stake in the complex to 99 percent after a transaction of around $43 million (€38M).
In total, reports say Kharitonin paid $87M (€77M) for the 99-stake in the Nürburgring, while the remaining one percent belongs to GetSpeed. Honestly, that doesn't sound like a lot of money for a track with such a great heritage and tremendous potential.
It’s worth mentioning the circuit did not host the 2015 Formula 1 German Grand Prix due to “financial matters” with the F1 officials, according to Kharitonin. The good news is Forbes Russia says the Russian billionaire is willing to resume negotiations with F1 supremo Bernie Ecclestone to bring back the legendary circuit to the calendar for 2017.
Let’s just hope the two parties will come to an agreement and reinstate the Nürburgring/Hockenheim venue yearly alternation. This season, the 2016 Formula 1 German Grand Prix will be the 12th race on the calendar and will take place on July 31 on the Hockenheimring.
Outside the motorsport world, speed limits have been lifted, so car manufacturers are once again able to head to the Nürburgring to try and take down records.
Source: Forbes Russia via autoweek.com