The Hockenheim circuit has made significant strides towards bringing the German Grand Prix back to life. The majority stake of the once-prominent Formula 1 venue has been acquired by private investors, who purchased 75 percent of the shares from the city of Hockenheim. This move has sparked optimism about the circuit’s financial capability to attract Formula 1 back to Germany.
According to DPA news agency, the new stakeholders are “five medium-sized companies,” and the city council of Hockenheim has unanimously approved this transaction.
The Emodrom Group, based in Hockenheim, disclosed that the acquisition cost was approximately EUR 5.5 million. Additionally, the city indicated that the new proprietors would assume responsibility for around EUR 20 million in existing debt.
Emodrom has outlined ambitious plans to invest as much as EUR 250 million into the Hockenheimring over the next decade. The developments will include a new hotel and the creation of 300 jobs, with the project dubbed ‘Motorworld’ slated to commence in late 2025.
Regarding the circuit’s aspirations, the management of Hockenheimring GmbH shared, “As the management of Hockenheimring GmbH recently emphasized, everyone in charge at the Hockenheimring is striving for the return of Formula 1,” signaling a strong commitment to restoring the track’s former glory.
GMM
