The world's longest and most famous race track, the Nurburgring Nordschliefe, has a new owner.
The infamous 20.7 km track - called 'the green hell' by three times Formula One World Champion Jackie Stewart - has been bought for 100 million euros ($164 million) by Capricorn, a German based parts company.
"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, said in a statement.
"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."
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The Nurburgring Nordschliefe circuit was built in 1927 and was an essential part of the Formula One calender until 1976 where Niki Lauda experienced his near fatal accident during the German Grand Prix. The current lap record for the Nurburgring is 6:25.91, set by Stefan Bellof at the wheel of a Rothmans Porsche 956.
Capricorn will officially take over management on January 1st 2015.