The German Grand Prix's future in Formula 1 is in doubt after it has been revealed the Nurburgring is on the brink of administration. A failed bid for a EU bailout has jeopardised the home race of 5 current F1 drivers.
The circuit alternates the German Grand Prix with the Hockenheim circuit but that deal was only made due to Hockenheim not being able to afford an annual race. This has put the future of the German GP in jeopardy.
The German state government owns 90% of Nurburgring's holding company, Nurburgring GmbH, and leased the circuit to Nurburgring Automotive GmbH in a deal lasting until 2040.
Over the last decade, the Social Demographic Party have invested over €500million to redevelop the circuit and its facilities. However at the last election they lost their majority and will not invest any more.
Reports in Germany also say the holding company also owe over €300million to the state owned Bank of Rhineland-Palatinate. The failed EU application was to service a €13million interest loan.
With no money to pay for race fee's, the German GP is in doubt. However, if the German GP does disappear from the current calendar it would open the way for a possible French GP or new race destination.
But the trouble in Germany could cause F1 to lose 2 great circuits. The Hockenheim track is less favourable compared to the old track, but the new circuit has provided great racing and high amounts of overtaking. The Nurburgring may not be like it was in the past, but the track is a fan and driver favourite due to its twisty nature and challenging corners.
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| (c) Octane Photographic |
The German state government owns 90% of Nurburgring's holding company, Nurburgring GmbH, and leased the circuit to Nurburgring Automotive GmbH in a deal lasting until 2040.
Over the last decade, the Social Demographic Party have invested over €500million to redevelop the circuit and its facilities. However at the last election they lost their majority and will not invest any more.
Reports in Germany also say the holding company also owe over €300million to the state owned Bank of Rhineland-Palatinate. The failed EU application was to service a €13million interest loan.
With no money to pay for race fee's, the German GP is in doubt. However, if the German GP does disappear from the current calendar it would open the way for a possible French GP or new race destination.
But the trouble in Germany could cause F1 to lose 2 great circuits. The Hockenheim track is less favourable compared to the old track, but the new circuit has provided great racing and high amounts of overtaking. The Nurburgring may not be like it was in the past, but the track is a fan and driver favourite due to its twisty nature and challenging corners.
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