Germany bailing out the Nurburgring - $312 million dollar loan
The European Union said it would not bail out the Nurburgring (which frankly we would much prefer over Greece) but Germany will. The track announced it was bankrupt last month
and there were rumors of Bernie Ecclestone stepping up to the plate to help out which were quickly debunked by Ernie himself (as well as when he skipped a meeting)
. The German state of Rhineland-Palatinate agreed quickly to guarantee hundreds of millions of Euros to keep the track operating.
The track itself is 90% owned by the state. This likely means we will see closer regulation of the track and no efforts to try to expand the ill-fated amusement park and hotel ventures. There is also a plan that may turn the track into a publicly traded company with funding from private investors. We are just happy the Ring is not shutting down.