42 replies to this topic

[Motie]

http://www.businessi...-million-2014-3

[275 GTB-4]

Whoa! I guess the Ferris Wheel won't be defunct to much longer!....I hope they improve it, maintain it and don't kill it!

[senna da silva]

Great deal at that price.

[P0inters]

I thought Bernie was buying it ? 

[Xpat]

Make it into a 1 mile oval and have a 600 lap NASCAR race there twice a year.

[MortenF1]

Yeah, what are their plans for it?

[Andrew Hope]

Nurburgerking.

[Uwe]

Make it into a 1 mile oval and have a 600 lap NASCAR race there twice a year.

 

Do you really think NASCAR would come over here for 25 spectators? Twice?

[mistareno]

I think it'd be a hoot to have a NASCAR race on the Ring. I reckon half the field would end up in the trees after he first lap....

[MikeV1987]

How long until theirs a McDonalds near the pits? or "McCafe"

 

Seriously though, great news to hear someone other than Bernie is stepping up to this. 90 mil sounds like a decent deal, i'm more interested to know how much it costs to keep that place running though.

Edited by MikeV1987, 06 March 2014 - 21:53.

[Longtimefan]

Americans got their hands on the Nordschleife? 

 

oh hells bells..

[Andrew Hope]

I think it'd be a hoot to have a NASCAR race on the Ring. I reckon half the field would end up in the trees after he first lap....

 

Yeah, I also reckon cars designed to do 4 left hand corners would probably have trouble on a track with 170 more than that.

 

Americans got their hands on the Nordschleife? 

 

oh hells bells..

 

Those greedy Americans. Wasn't Omaha Beach and Hurtgen Forest enough for them?

Edited by Andrew Hope, 06 March 2014 - 22:17.

[FrAnC1s96]

I thought Bernie was buying it ? 

Yeah he put a bid in for 50 Mil, but got outbid and didn't want to offer any more for it.

[Xpat]

I think it'd be a hoot to have a NASCAR race on the Ring. I reckon half the field would end up in the trees after he first lap....

 

They'd be in good company wouldn't they? Ask Peter Collins. Wait, never mind, he's dead because he hit a tree.

[Romulan]

Americans got their hands on the Nordschleife? 

 

oh hells bells..

 

If H.I.G. Capital is a pure capitalist regime, whose moral compass is fixed on profits only, I'd be worried too.

[Xpat]

If H.I.G. Capital is a pure capitalist regime, whose moral compass is fixed on profits only, I'd be worried too.

 

It would be awful if they ran it like the previous owners who ran it with the highest moral standards...into receivership.

[bourbon]

If H.I.G. Capital is a pure capitalist regime, whose moral compass is fixed on profits only, I'd be worried too.

 

Profits?  If that was the case, they wouldn't have bought the Nurburgring.  

 

It isn't some priceless cash cow, ya know, it is considered a sink hole.

[loki]

They'd probably make more money by keeping the Nordschleife and bulldozing the rest and turning it into an industrial park.

[Xpat]

They'd probably make more money by keeping the Nordschleife and bulldozing the rest and turning it into an industrial park.

 

Condos and a strip mall with #1 China Buffet, NAILS (you pick color), and a payday loan joint.

[Romulan]

Profits?  If that was the case, they wouldn't have bought the Nurburgring.  

 

It isn't some priceless cash cow, ya know, it is considered a sink hole.

 

You should ask yourself why a competent investment firm would buy a "sink hole".

Edited by Romulan, 07 March 2014 - 03:58.

[bourbon]

You should ask yourself why a competent investment firm would buy a "sink hole".

 

Ala - that is my point.  They do not consider it such - although it has been so designated.   See also.

[Romulan]

Ala - that is my point.  They do not consider it such - although it has been so designated.   See also.

 

"Hoping to generate revenue from non-motorsport promotions in the area, grandiose plans emerged to build an amusement park, shopping mall and hotel on Nürburgring property, further irritating racing purists and the local fan base."  Metro

 

Unfortunately, I've never been to any race venue outside of the United States.  Without taking a survey, I know of three (local) dirt ovals that are located on different fairgrounds.  My local fairgrounds regularly hosts concerts, carnivals, Oktoberfests, trade-shows, renaissance fairs, NASCAR and non NASCAR sanctioned racing, motorcycle racing, 4-H, and bingo (yes, bingo).

 

The goal of operating a mixed-income facility may not have been a bad idea, while it sounds like taking on a 610-million dollar burden was.  Eventually, we'll all learn what an investment firm that paid 90-million dollars for the property intends to do with Nurburgring.  Until then, I'll be holding my breath and wishing the best for the local population.

Edited by Romulan, 07 March 2014 - 09:26.

[RoutariEnjinu]

If they're going to make it into an amusement park to make money, or build hotels and other things on site, then that could be good. If it ends up being more accessible, and well promoted, becoming a Disney Land of motoring, then that can't be bad. A photo booth after a lap, showing shots of key moments and places could squeeze extra money out of those that have it and want to spend it.

If they're just out to make money, and have no real interest in motorsport or racing, I can smell all kinds of hidden costs coming for a lap.
A standard ticket allows you to drive up to 55mph, big monetary fine for going over it. Premium tickets give you speeds of up to 90mph, and Deluxe Premium ticket gets you a tshirt and any speed you want.

With how Americans handle health-care and litigation, you can bet your last Euro that any kind of recovery service is going to put you in debt for a decade, and hitting the barrier means selling your home.

14 miles of green hills and forest is also less profitable than 14 miles of billboards and advertising.

Edited by RoutariEnjinu, 07 March 2014 - 10:35.

[275 GTB-4]

I can't wait to see Herbie VII - Nurburgring - Herbie goes Racing!

 

and wait for the Movie marketing frenzy....T Shirts? you ain't seen nothing! Fleets of Herbies for rent...."drive the Nurburgring in Herbie!"

[Xpat]

I can't wait to see Herbie VII - Nurburgring - Herbie goes Racing!

 

and wait for the Movie marketing frenzy....T Shirts? you ain't seen nothing! Fleets of Herbies for rent...."drive the Nurburgring in Herbie!"

 

Isn't Herbie a German car? Makes sense.

[demet06]

U.S. GP East?

[garagetinkerer]

Yeah he put a bid in for 50 Mil, but got outbid and didn't want to offer any more for it.

However Bernie has contacts like no one else... he would have probably (a mountain of salt) got some more racing done at the ring. I mean, if he can't, then who will?

[Fastcake]

You should ask yourself why a competent investment firm would buy a "sink hole".

 

One would presume they brought it purely to sell it on later at a profit. They probably should of asked Genii about how easy making money from motorsport actually is.

[chunder27]

The last thing that is needed is more amusement park rubbish, the last effort fell on its arse.  Why?  Because they just steamrollered in and tried to take over all the stuff that was already there, and the result?  It was a ghost town within a few years and was totally run inot thground.

 

You cannot just get into this kind of thing and ignore what is already there, you have to work with them.

 

Tpwns like Adenau are totally built around business at the Ring, and this has to be taken into account.  THe last group just built a sort of fake Disneyland thing, with huge cafes and hotels and venues right near the track, and wondered why the locals didnt like it!  Duh.

 

Not sure about this yet, the guy has come out with some cool ideas such as transponder timing, cameras everywhere to relay accidents ASAP rather than the free for all you have now.

 

And lets face it they got it fairly cheap for the land they have bought?

 

But I doubt it is easy to make millions there, a lot of it needs work. The concert though profitable causes a nightmare for the area, and the racing, though good is not frequent enough, but really not much can race there!

 

the GP track is superb, they do have some good stuff there, but wouldnt it be great to see a DTM round on the Ring, or even better something like WEC, I cant see it, but surely ould bring the crowds teeming in, far better than that daft race in France!

[Romulan]

One would presume they brought it purely to sell it on later at a profit.

 

Which generally means whatever transaction fits the definition of highest and best use.  And if you're a racing enthusiast or a local inhabitant you may not like the outcome. 

[Paul Parker]

Nurburgerking.

Very droll.

[whitewaterMkII]

 

 

You cannot just get into this kind of thing and ignore what is already there, you have to work with them.

 

 

Yes, you're right.

Bribery is a worldwide way of doing business.

[ray b]

when americans buy a race track

 

they turn it in to a housing development or a shopping mall

[byrkus]

But isn't Nürburgring located in a sort of protected natural zone...? Don't know the exact wording, but I remember hearing that it's inside of a "Naturschutzgebiet". If so, what can they possibly build alongside?

[Paul Parker]

The last thing that is needed is more amusement park rubbish, the last effort fell on its arse.  Why?  Because they just steamrollered in and tried to take over all the stuff that was already there, and the result?  It was a ghost town within a few years and was totally run inot thground.

 

You cannot just get into this kind of thing and ignore what is already there, you have to work with them.

 

Tpwns like Adenau are totally built around business at the Ring, and this has to be taken into account.  THe last group just built a sort of fake Disneyland thing, with huge cafes and hotels and venues right near the track, and wondered why the locals didnt like it!  Duh.

 

Not sure about this yet, the guy has come out with some cool ideas such as transponder timing, cameras everywhere to relay accidents ASAP rather than the free for all you have now.

 

And lets face it they got it fairly cheap for the land they have bought?

 

But I doubt it is easy to make millions there, a lot of it needs work. The concert though profitable causes a nightmare for the area, and the racing, though good is not frequent enough, but really not much can race there!

 

the GP track is superb, they do have some good stuff there, but wouldnt it be great to see a DTM round on the Ring, or even better something like WEC, I cant see it, but surely ould bring the crowds teeming in, far better than that daft race in France!

 

According to my local contacts several years ago, the ill fated development currently in situ was forced upon them, it was unwanted and the local taxpayers ended up paying for it.

 

There were other accusatory and derogatory comments which I cannot repeat but the current outcome does not bode well in my opinion.

 

ray b's remark that:

 

'when americans buy a race track they turn it in to a housing development or a shopping mall'

 

is very apposite, let's hope the new owners don't destroy the Ring in the process.

 

Perhaps somebody with the necessary contacts and authority should ask the car manufacturers who have built research facilities in the area and use the track if this affects them, they might know what is going to happen to the current access.

 

If the Ring is now owned by an American company presumably it is no longer designated as a public road and I cannot see their lawyers tolerating people racing around it and occasionally killing themselves as is the case now, because surely they will held responsible for the injuries and death. As I posited in a previous post.

 

Meanwhile the Eifel National Park is within the area but I am not sure if the circuit falls within its boundaries, somebody better informed will know.

[KWSN - DSM]

I think there are a lot of critique here based on nothing but what seem a general disregard for anything American. We should all be happy that someone had the balls to step in and but The Ring, how and what the new owners will do none of us have any idea about, and until they fail or do something stupid the most we can really offer is hope that The Ring as such will remain.

 

The new owners will be fully aware of the iconic status The Ring have around the world, around the world and for their investment to become viable they should cater to the iconic parts and forget about the parts which have been tried and failed. I expect either a fairly comprehensive plan from them or a fast flip making a nice little profit in selling it onwards within a year.

 

[Xpat]

Often times when a property like this is sold the sellers and local government will require some sort of "plan" from the buyer. I assume the sellers in this case didn't simply sell it to the first group with a big suitcase of cash.

Edited by Xpat, 10 March 2014 - 08:57.

[redreni]

This is very concerning. The Ring has survived until now because of state subsidy. I don't know to what extent it would need subsidy if it wasn't pissing money up the wall on having a Grand Prix - perhaps it wouldn't need any. The N24 is definitely a huge money-spinner, and if the new owners are getting the toll revenue as part of the deal that's a nice little earner too.

 

Selling the place gets the European Commission off the regional government's back, but I'd be very interested to hear the details of this deal. Will the new owners have to pay the fee for the Grand Prix if they still want that event to go ahead? If so, how on earth are they going to pay for it without state subsidy? If they think re-opening the rollercoaster and adding more of the same kind of **** is going to work, this is likely to be a disaster. And what protections are included in this deal to make sure Germany isn't going to lose a national asset of considerable culural, economic and historical significance if this venture fails and the private investors stop taking care of the place?

[275 GTB-4]

If the Ring is now owned by an American company presumably it is no longer designated as a public road and I cannot see their lawyers tolerating people racing around it and occasionally killing themselves as is the case now, because surely they will held responsible for the injuries and death. As I posited in a previous post.

PP are you talking from a knowledgeable position?

To me, the local authorities would have put caveats on the sale (eg the road is to remain public, a share of the maintenance costs are to be borne, environmental restrictions etc etc)

Your post is just a tad, alarming...but is it truthful?

[drunkenmaster]

Apparently that report was wrong. H.I.G. Capital was only one of the last two bidders for the Nürburgring, the other one was the German automotive supplier Capricorn from Düsseldorf.

Capricorn announced today the buy of the Nürburgring.

Here's the press release:
http://www.capricorn...cornpNBR_EN.pdf

[404KF2]

There you go, no New Burger King, after all.

[BRG]

Good lord, it will be all sauerkraut and wurstl stands, beer kellers and oompah bands.  You know what the Germans are like, they will ruin it completely.

 

Oh, wait a mo....

[scheivlak]

First car to open the renewed facilities: