The Nurburgring circuit, together with the hotels, theme parks and other associated paraphernalia has filed for bankruptcy. The announcement was made earlier today and comes as no surprise given the spiraling troubles in Germany. The government has ploughed around 500 million euros into the redevelopment of Nordschleife and nearby facilities. The new developments have proved to be unpopular with locals and tourists alike, resulting in the costs not being recouped in revenue from visitors. Whilst the Northern Loop itself remains a worldwide attraction, the hotels, theme park and restaurants did not prove popular. The European Union has prevented German officials from bailing out the project further, and because the Nurburgring can’t afford to repay the interest on outstanding bank loans it has no other option then to file for bankruptcy.
There is much speculation over the future of the Nurburgring, the most logical outcome would be for a consortium of car manufacturers to purchase the circuit (separately from the hotels etc.) so they can continue testing new models. Track drivers across the world are waiting anxiously to hear whether the Tourist Days will feature or if they will be a thing of the past.