Following news last month that the Nürburgring had been forced to declare bankruptcy, the future of the storied racetrack looked uncertain to say the least. Two solutions emerged that included a management buyout, or one by Bernie Ecclestone, neither of which has resulted in any further news.
In the meantime, however, an announcement late last week brings some relief for the circuit owners after the Rhineland-Palatinate’s state legislature agreed to provide an extra €254 million of state funds to secure the loan. The loan will give the embattled owners enough breathing space to carry on running the circuit at least until 2013.
The loan is thought to have come as a direct reaction to Bernie Ecclestone’s warning that Formula 1 might not take place next year if the Nürburgring’s troubles weren’t sorted. Of primary concern to Ecclestone is having a location to run next year’s German Grand Prix. If the track is insolvent, the event could return to Hockenheim for another year, or Ecclestone could provide some sort of financial assistance to the Nürburgring. When asked that specific question by Der Tagesspiel, Ecclestone replied cryptically, “Let’s wait and see. At the moment we’re having talks.”