Breaking: German Supplier Capricorn Has Bought The Nürburgring

It turns out famed but beleaguered Nürburgring won't go to the Americans after all, but will remain in the hands of the Germans. Dusseldorf-based automotive supplier Capricorn has sealed the deal to buy the 'Ring, according to news reports.

Germany's Der Spiegel reports that Capricorn knocked Miami-based buyout firm HIG Capital out of the running to own the circuit. The contract was instead awarded to the German supplier, which makes a variety of engine components and has more than 350 employees, 100 of whom work at a factory at the Nürburgring.

Despite its incredible history and use in motorsports, automaker testing and amateur track days, the 'Ring has been in serious financial trouble for years and is saddled with a massive amount of debt.

Die Welt reported the deal happened for an estimated 100 million Euro with a 25 million Euro investment upfront for the expansion of the track. More on this as we get it.

Photo credit Evoflash

Hat tip to Kai!