New fear haunts German F1 track

Germany’s Nuerburgring circuit, which has hosted Formula One’s German Grand Prix, is to launch insolvency proceedings amid fears that it could run out of cash while the European Commission considers planned government aid. The state government in Rhineland-Palatinate, which owns the financially troubled Nuerburgring, decided on the move on Wednesday, the dapd news agency reported. State governor Kurt Beck said the reason was that the European Union’s executive commission wasn’t expected to approve planned government aid of 13 million ($16 million) by the end of this month. That would lead “with high probability to an insolvency at the end of the month because of a lack of liquidity,” Beck said in the state capital, Mainz. He said his government decided to pre-empt that by choosing to launch “orderly insolvency proceedings.” The German GP has alternated in recent years between the Nuerburgring and Hockenheim. This week’s race is at Hockenheim. The private company that operates events at the circuit, Nuerburgring Automotive GmbH, said that it wasn’t directly affected by the insolvency of the owner and would continue its operations. The company said in a statement that it agreed with F1 chief Bernie Ecclestone last week on “a concept with which Formula One next year would be feasible.” The company had asked the state government for its approval and hoped to be able to conclude a deal shortly. It gave no details. Meanwhile, twice world champion Sebastian Vettel will try and break two hoodoos at Sunday’s German Grand Prix at Hockenheim. Although he is the youngest driver to win a Formula One race, the youngest to win a title and the youngest double world champion, the 25-year-old Red Bull driver has yet to win a race in his homeland or in July. Born in Heppenheim less than 50 kilometres away, Vettel will be racing in his fifth German Grand Prix having finished eighth, second, third and fourth in his previous home outings. “It is different. But on the other hand, you don’t get more points there so I will enjoy the weekend and do my best,” he said. “It’s always a special crowd to race in front of. I’ve driven on that circuit in different series and it’s always been great. The campsites near the new circuit are fun and it’s special to meet the fans there.” A win would be a boost for Vettel who is third overall, and 16 points behind second-placed Australian team mate Mark Webber after nine of the 20 races. However, with Nico Rosberg and a resurgent Michael Schumacher looking to give the Mercedes works team their first home win since Juan Manuel Fangio won at the Nuerburgring in 1954, organisers are hoping for a big crowd. After retiring five times in his first seven races of the season, seven-times world champion Schumacher has managed a third place, his first podium since his comeback, and seventh in his last two outings. Agencies