Local Government supports Nurburgring circuit financially – Formula 1 news
Nurburgring is expected to have moved out of the financial troubles it was facing around the German Grand Prix after the local government provided the much needed financial support.
The local government has approved a 254-million Euro loan to the circuit which will help them guarantee a 330 million loan which was acquired by the German circuit for improvements.
The track boss Jorg Linder is very confident that next year Formula 1 will be scheduled at Nurburgring, as it has always happened.
He told Autosport.com, “We are talking to them, so will see. I wouldn't want either of them to go bust. We need to keep the German race – so we have to do the best we can.”
The track boss is very enthusiastic that he will try everything he can to get Formula 1 planned at Nurburgring in the next 2013 season.
The financial support provided by the local government does not get the circuit out of debts totally, however with the financial support, they will get considerable amount of financial cushion.
There are many events scheduled at the circuit which include World Superbike championship, DTM and 24 hours Nurburgring but Formula 1 Grand Prix is the major event held here.
It was expected that Nurburgring would be closed and the German GP will only be held at Hockenheim because of fears of bankruptcy. Hockenheim had announced that it will be available to host the Formula 1 event every year, but the administration said that
they would be happy if Nurburgring could host German GP alternatively.
A commercial aspect related to Nurburgring was that it was also used as a test track for auto manufacturers. Nurburgring has four different configurations which may be used as required.
Lewis Hamilton who started at the second grid position and was able to finish at first place won the German GP at Nurburgring held in 2011. Mark Webber of Red Bull Racing had the pole position however he could only manage to finish in the third place.
Fernando Alonso of Ferrari won the German GP held at Hockenheim in the current season. Sebastian Vettel managed to finish second however, he received post race penalty and was dropped to fifth place.
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