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BERLIN, Germany - Formula 1 chief executive Bernie Ecclestone has put in a bid to buy the famous yet financially troubled Nurburgring circuit in Germany.
The race track is in administration after local politicians loaded it with debt equating to around 50 years worth of profit and organisers are seeking a new owner.
'WE MADE AN OFFER'
Ecclestone submitted an offer for the circuit which at 20km is the world's longest race track but which has not hosted a Grand Prix since Niki Lauda’s infamous crash in 1976.
Ecclestone said his move was aimed at keeping a Formula 1 race in Germany in the coming years: "We made an offer and we now wait for it to be accepted.
"We believe that we can do more than anyone else for the circuit. There could be a decision as early as in the coming weeks."
HISTORY OF THE ‘RING
Completed in 1927, the original ‘Ring was built to showcase German auto engineering and racing prowess. In recent years the country's top automakers have been cited as potential bidders.
The adjacent modern 5.1km F1 track first hosted Formula 1 in 1984 but now shares the German Grand prix with Hockenheim.
The assets include the track and adjacent amusement park that features a rollercoaster designed to mimic an F1 race.
Organisers said: "We do not comment on any specific bidders. Everybody who has an interesting offer is warmly welcome.
"We're in the final stages of the process and want to conclude it in Q1, so that the new owner(s) can start the season in April."
The race track is in administration after local politicians loaded it with debt equating to around 50 years worth of profit and organisers are seeking a new owner.
'WE MADE AN OFFER'
Ecclestone submitted an offer for the circuit which at 20km is the world's longest race track but which has not hosted a Grand Prix since Niki Lauda’s infamous crash in 1976.
Ecclestone said his move was aimed at keeping a Formula 1 race in Germany in the coming years: "We made an offer and we now wait for it to be accepted.
"We believe that we can do more than anyone else for the circuit. There could be a decision as early as in the coming weeks."
HISTORY OF THE ‘RING
Completed in 1927, the original ‘Ring was built to showcase German auto engineering and racing prowess. In recent years the country's top automakers have been cited as potential bidders.
The adjacent modern 5.1km F1 track first hosted Formula 1 in 1984 but now shares the German Grand prix with Hockenheim.
The assets include the track and adjacent amusement park that features a rollercoaster designed to mimic an F1 race.
Organisers said: "We do not comment on any specific bidders. Everybody who has an interesting offer is warmly welcome.
"We're in the final stages of the process and want to conclude it in Q1, so that the new owner(s) can start the season in April."