Germany’s cash-strapped Nurburgring has reportedly found a buyer, with a Russian pharmaceuticals billionaire linked to the sale.
According to Bloomberg, Viktor Kharitonin has agreed to purchase a majority (66 percent) stake in the company that controls the circuit.
Kharitonin is chairman of Moscow-based pharmaceuticals company Pharmstandard.
The purchase price is a closely-guarded secret for now, but an estimate for the 379-hectare property from March this year suggested the value was over 100 million euros (AU$143 million).
Kharitonin’s reportedly successful bid replaces that of parts company Capricorn, which attempted to buy the circuit in March but was yet to follow through on the transaction.
With some financial stability, the Nurburgring’s motoring icon status is now unlikely to be altered.
Many of the world’s carmakers consider the course a vital tool for development of future models, thanks to the Nordschleife (‘northern loop’) circuit’s challenging design and considerable length.
The ‘bragging rights’ that go with setting a faster time than competitors with similar vehicles is seen as a sure way to attract attention and perhaps buyer-interest in a new performance model.