The Nurburging facility has been sold to the Capricorn Group for a whopping 100m Euro. The Capricorn group is said to take over the Fromula 1 circuit in 2015. Capricorn Group is a business firm that deals in motorsport, the company envisages developing an automotive technology cluster at the Nurburgring facility once it over takes it in 2015.
A quarter of the purchase price has been designated to be invested in the facility for the development and expansion of the automotive technology cluster.
A committee was formed to decide as to who would take charge of the venue. The uncertainty regarding the purchase of Nurburging facility cleared when Capricorn Group put forward the winning bid and purchased the venue by paying a hefty amount.
Managing partner of the Capricorn Group, Robertino Wild is a huge motorsport fan, he expressed his joy over the purchase of the facility and said that Nurburgring has always been his passion. He further said that the company is aware of the copious potential of the race venue and it contemplatesoptimizingthe existing structures. He maintained that the company’s main objective is to turn Nurburgring into an automotive technology cluster and they will work meticulously towards achieving it.
