The ‘Ring Has A New Lord; Russian Billionaire Buys 99 Per Cent Of It

Viktor Kharitonin, a Russian businessman, now holds 99 per cent of the German track, making him the official Lord of the ‘Ring.

Kharitonin, who is the co-founder of the Pharmstandard pharmaceutical company, had purchased 80 per cent of the Nurburgring back in 2014, with the remaining 19 per cent bought now for 38 million euros ($43 million) according to Forbes Russia.

The total cost of getting the 99 per cent of Nurburging in his hands is estimated close to 77 million euros ($87 million), with the remaining 1 per cent kept by GetSpeed.

The circuit’s management was facing known financial problems in the recent years. Adding to the recent problems faced by the management was the demise of the German Grand Prix. Kharitonin said though that talks with Bernie Ecclestone will resume for getting Nurburgring back on the F1 Calendar. This year’s German GP will be held in Hockenheim.

Nurburgring announced in late March the lift of the speed restrictions imposed after the death of a spectator during an accident at a VLN race last year.

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