Private investors have acquired a major stake in Hockenheim, planning significant investments aimed at reviving the German Grand Prix and restoring the circuit as a premier Formula 1 venue.
Hockenheim is edging closer to a Formula 1 return and the revival of the defunct German Grand Prix.
Private investors have purchased 74.99 percent of the well-known former Formula 1 circuit from the city of Hockenheim, raising hopes that the new owners might have the necessary funds to bring the sport back to Germany.
According to the DPA news agency, the buyers are “five medium-sized companies,” with the deal already unanimously approved by the Hockenheim city council.
The Hockenheim-based Emodrom group confirmed that the purchase price was about 5.5 million euros, noting that the new owners also take on about 20 million euros in debt.
Emodrom stated that its plan is to invest up to 250 million euros in the Hockenheimring over the next five to ten years, including a new hotel and the creation of 300 jobs. Construction of what they are calling “Motorworld” is already scheduled for the end of 2025.
“The decision by the Hockenheim city council marks a significant step in the strategic realignment of the Hockenheimring,” explained Tim Brauer, CEO of the Emodrom group.
“We are thrilled by the trust that has been placed in us and proud to be part of this groundbreaking development.”
“Since the establishment of Emodrom GmbH in 2012, we have been continuously working on the modernization and development of the Hockenheimring.”
“As highlighted by the new management of Hockenheimring GmbH, all those in charge at the Hockenheimring will fight for the return of Formula 1.”
Hockenheim Poised for F1 Return with Major Investment. Hockenheim Poised for F1 Return with Major Investment
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