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Nürburgring sold for £83m to German auto tech group (2014)

By Ollie Kew Motor Industry 12 March 2014 11:00 The Nürburgring racetrack in Germany has been sold to German automotive and aerospace technology conglomerate, Capricorn Group, for a figure in excess of €100m (£83m), it has been announced. The Capricorn bid narrowly beat a rival offer from HIG Europe by virtue of its ‘higher purchase price and good prospects for the region’. For now, it’s business as usual.

Hyundai beefs up its WRC team

Hyundai revealed last year that they’re preparing to take on the World Rally Championship (WRC) from 2014 when a rally car based on the i20 will take to the world rally stage to cast some sport fairy dust on Hyundai’s showroom cars. At that time we had little information about the team, but in January we learnt that Hyundai had appointed Michel Nandan to head up their WRC efforts, a good move as Nandon was the technical director for the Peugeot WRC team until 2005, so he knows his stuff. Now we learn that Hyundai is beefing up its WRC team as it prepares for a full season of WRC in 2014.

McLaren denies Ron Dennis demotion rumors

McLaren has denied reports that boss Ron Dennis is being demoted in the wake of the automotive division he heads losing money. Germany's Auto Motor und Sport broke the news this week that Dennis could be demoted. He is known for shaping McLaren into a motorsports powerhouse, and has spearheaded its automotive division since 2009.