SAVE THE RING!!

[leamyj]

SOME OF YOU MAY BE AWARE OF THIS, FOR THOSE WHO AREN'T TAKE A MINUTE TO LISTEN

[TeenaG]

ooohhh didn't know anything about that.. will check it out. cheers....

[leamyj]

If you understand German, there's more info here








if not, here's some translation and comments by other contributors, may be out of sequence but you get the idea

These "high rollers" sure effed things up. Yes, the whole complex looks amazing, but it's just empty. Now they gonna use the one thing that always attracts people (Nordschleife) and use it like a whore to make back money on the other projects. The Ring in private hands. Who could have ever guessed. Sad, sad, sad.

The story Part 5 (ends): The concern from local people is now that all this will also influence the Nürburgring and its myth itself, as the operating company Nürburgring GmbH has now even more financial problems than before. There are/were running several investigations with regard to breach of trust, fraud mismanagement and lack of financial control. (translation courtesy of FW)

aqua5boy 3 days ago
The story Part 4: Neither Nürburgring GmbH nor Rhineland-Palatinate wanted to believe that the complex financing concept offered by the Swiss had any flaws or could even be a fraud. When they finally realised the truth, the Finance Minister of Rhineland-Palatinate resigned. In total €330 million of taxpayer's money was burned in the project, with little success for the Park. The roller-coaster (€11m) never ran, the shopping mall and entertainment centre are pretty empty.

aqua5boy 3 days ago
The story - Part 3: to include the "fastest roller-coaster in the world". A similar concept "Spacepark" in Bremen a few years back, went bankrupt very quickly. In early 2009 Rhineland-Palatinate still searched for private financing for the project which was due to open in July. A Swiss businessman offered financing too good to be true, told stories of investors from Dubai, the US and elsewhere, was delaying the whole transaction and asking for money in order to acquire more investment.

aqua5boy 3 days ago
The story - Part 2: In 2007 development of the park was started, although financing was not ensured. In mid 2007 a company called MediInvest from Düsseldorf was announced as the private investor financing the project, but this company did not have the €94m required. In order to proceed with the project, public money (i.e. taxpayer's money) was transferred to MediInvest without public notice. "Nürburgring 2009" was planned as an Entertainment, Shopping and Business Park development.

aqua5boy 3 days ago
The story - Part 1: The Nürburgring is owned by the Land Rhineland-Palatinate and is run by the Nürburgring Gmbh. Since 2004 the Nürburgring GmbH made substantial losses, mostly due to secondary businesses it started in previous years. In order to make more money they planed to build an Event, Leisure and Business Park at the Nordschleife, and were looking for private investors to finance it, as Rhineland-Palatinate could not finance it on its own. But for several years no investor was found.

[leamyj]

more from "save the ring"




more










Sorry if I'm boring any of you with this, but if you have been at the ring then you know how special a place it is. Big business is not always good for sport.

[leamyj]

The word is spreading, this from Canada, I think