Ecclestone confirms bid to buy Nurburgring circuit

Wednesday 15th January 2014, 19:41 by Ryan Wood 

Red Bull Racing, Getty Images

Bernie Ecclestone has confirmed he has placed a bid to purchase the Nurburgring in an attempt to ensure Formula 1 remains at the historical circuit.

The circuit went into administration after racking up massive debts after its previous owner constructed an amusement park on the site to attract bigger crowds, but the project failed.

The local government then took control and are now looking to sell the site.

On Wednesday, the 83-year-old confirmed he had placed a bid to take control of the famed circuit, which includes the F1 portion of the circuit, the amusement park and the feared 20km Nordschleife section which is often open to the public for track days.

"We made an offer and we now wait for it to be accepted," he told Handeslblatt and Wirtschaftwoche publications.

"We believe that we can do more than anyone else for the circuit. There could be a decision as early as in the coming weeks," he revealed.

Ecclestone, who faces bribery charges in Germany, may be looking to appease German authorities in order to avoid jail time and many believe this move could be a result of that.

It's also believed the F1 Group may be interested in creating an F1 themed amusement park and the land which comes with the circuit could be an ideal location fo such an attraction.

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