On November 27th 2012 Kai Richter and Jörg Lindner of the NAG management company finally signed a contract and agreed to leave management of one of the most, if not the most, famous race tracks of the world to an insolvency administrator. They are still, through their company, involved in the hotels around the track, the Formula 1 track itself and the holiday park but the Nordschleife is out of danger.
The most important facts about the agreement:
- all jobs at NAG are safe
- the new operating company will seamlessly take over
- the creditors agreed to this as well
- the base for future investitions is in the works
The agreement has been dated back to the 30th of October 2012 & the German press release issued by the liquidator is available
here. Feedback from the "Save The Ring" initiative is overwhelmingly positive and there's hopefully a lot to look forward to. After how everything went downhill when NAG started managing the Nordschleife it can certainly only get better.
Mike Frison, involved in the "Save The Ring" initiative:
The tyranny of the NAG has come to an end.
[source:
Save The Ring | picture:
Lothar Spurzem]