These Good Guy Germans Just Saved The Nurburgring From Death

German auto parts company Capricorn Group has bought the Nurburgring for more than €100 million (£83m). The company has had a factory within the 'Ring since 2002, and is investing €25 million (£21m) into the development of the circuit.

The sale is a big deal, as the famous Nordschleife has been in serious financial trouble for years. A poorly-executed leisure park (including Europe's fastest roller coaster) that is a ghost town most of the year has left the circuit drowning in debt.

So Capricorn's cash is welcome. For its €100 million it takes control of the track and all associated track days and motor sport events, music events, tourist spots and hotels. In a move that will no doubt be celebrated, it intends to get rid of that money pit roller coaster.

An exploded view of the Carrera engine Capricorn manufactures

Capricorn has its roots in motor sport, developing innovative technologies for use in automotive and aviation sectors, and it intends to expand itself with the purchase of the 'Ring. The creation of an 'automotive technology cluster' at the circuit will create new jobs, and by embedding itself within universities and colleges it hopes to push the region's position as a leader of automotive development.

Capricorn will officially be handed the keys on January 1st 2015.