by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
GP Week : Issue 216
F1 >>> BUsinEss By Christian sylt The German Grand Prix is “dead” according to F1’s chief executive Bernie ecclestone. “It won’t get replaced if it doesn’t happen,” he told the Independent. “As with any race, if it is cancelled it is cancelled. There’s not much we can do about it.” This year’s race was due to be held at the storied Nürburgring track which is located in Germany’s eifel mountain area and has been plagued with financial problems and dwindling ticket sales. since 2007 it has alternated with the Hockenheimring as the location of the Grand Prix. Around 45,000 fans came to see the event at the Nürburgring in 2013 and 52,000 fans were on hand last year in Hockenheim. In contrast, around 120,000 viewers were on hand at the 2014 British Grand Prix at silverstone in 2014 which shows what the race organisers in Germany are up against. The Nürburgring ran into difficulty after taking out a $370m loan in 2009, which was used to fund construction of an on-site shopping mall, hotel and amusement park. The new facilities were not as popular as hoped and the circuit struggled to make debt repayments. It was then handed additional public support but, in an unexpected twist, the european Commission launched an investigation claiming that the assistance was not granted on market terms. To break the impasse the Nürburgring was put up for sale in May 2013 and ecclestone made a bid which would have secured the future of the track and the race. “The German Grand Prix is in trouble because they haven’t got any money,” he told the CityAM newspaper last year. “It is in trouble because it used to be supported by the council but now the european Commission has said that people can’t use that sort of money for this sort of thing. “Nürburgring cost $370m to build and I offered them $50m. You have got a massive facility, nice hotels, a lot of land, a lot of buildings and the race track. It’s a good investment.” Control of the track was eventually sold to russian billionaire Viktor Kharitonin but it has been an uphill struggle ever since. Hockenheimring is not a long-term solution as the very reason the race needed to alternate its venue is that neither of them agreed to host the race every year. In 2013 the F1 Group gave the Nürburgring an additional boost as it agreed to waive the estimated $22m fee for the race and instead took the revenue from ticket sales to the 52,000 spectators. If the race doesn’t take place this year it would be the first time that Germany has not hosted an F1 Grand Prix since 1960. ... but german gP "dead" 34 GPWEEK.com // 34 GPWEEK.com // PARTNERS: