The Nürburgring’s medium term future has been secured thanks to a new €254 million loan from the German state of Rhineland-Palatinate.
At a special meeting of the state legislature’s budget and finance committee Premier Kurt Beck accepted responsibility for his part in the Nürburgring’s problems, stating: “errors have been committed.”
Beck is referring, in part, to the decision to turn the Ring into a NüroDisney theme park and allow private ownership of the operation; a move he personally supported. Beck also apologised to the people of the Eifel region whose livelihood is so inextricably linked to the 20.832km of Nordschleife tarmac.
Beck then led his Social Democrats party, along with their coalition partners, the Greens, to overcome opposition from the Christian Democrats to have the special loan passed.
The new funds will allow Nürburgring GmbH to service its €330 million debts and keep the track operating. The longer term future of the Ring remains uncertain, but at least the local residents, and Nürburgring fans around the world, can now sleep a bit easier and awake with a smile on their face.
[Source: Deutsche Welle | Thanks to Ken for the tip]