Nurburgring Sold To Russian Pharmaceuticals Billionaire: Report

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.