The world’s most famous racetrack - the Nurburgring, known as ‘Green Hell’, has officially been sold.
Capricorn, a Dusseldorf-based parts company, has purchased the 12.9-mile track for a reported €100 million (£84 million), almost two years after the racetrack first went up for sale.
The deal also includes an investment of around €25 million (£20 million) to help further develop the site and improve security. The new owners will launch a new company called Capricorn Nurburgring, which will manage the new business of 1st January 2015.
"As an enthusiastic motor sport fan, the Nurburgring has always been a passion of mine," said Dr. Robertino Wild, managing partner of the Capricorn group.
“We have identified the enormous potential of this unique race venue and would like to optimise the existing structures, but above all turn the vision of an Automotive Technology Cluster into reality.”
Built in 1927, the Nurburgring covers an area of 937 acres and has hosted over 30 Formula 1 races on its Grand Prix circuit. Nestling within the confines of the track, manufacturers have also built development centres where cars can be tuned after testing.