F1 News: Germany circuits hope for rotation scheme from 2026 (3rd Update)
(GMM) The new 75 percent owners of the Hockenheim circuit say they are proceeding with “great caution” in trying to revive the German GP.
In April, investment group Emodrom revealed that “five medium-sized companies” had purchased most of the historic Formula 1 circuit for EUR 5.5 million – also making them responsible for about 20 million euros in debt.
Die Welt newspaper now says the local council has finally approved the deal.
“Of course we are also thinking about Formula 1,” said Emodrom Group’s managing director Tim Brauer.
“We will not embark on any financial adventures, but we will also try to find models for how we can bring Formula 1 back to Germany,” he added.
Hockenheim’s last grand prix was held in 2019, and F1 CEO Stefano Domenicali has said multiple times since then that the sport is keen to return.
“We have never broken off contact and talks with Formula 1,” explained Hockenheim boss Jorn Teske, “but we are taking things slowly and seriously. We have to make sure that we do not run a deficit.
“That is why we are initially concentrating on other projects. We are thinking in cycles of 20 to 25 years – not on the short term.”
Winning over Domenicali and F1 owner Liberty Media, however, would almost certainly require investment to dramatically upgrade the Hockenheim facility.
“I have already been in contact with the new investors,” revealed Hermann Tilke, the most well-known Formula 1 circuit designer. “It would be great if we could hold a Formula 1 race there again in Germany.
“But Formula 1 today requires additional criteria, not just a decent race track. Instead of 2,000, you now need at least 4,000 to 5,000 VIP seats, fan zones, space for concerts, tents, kitchens and so on.”
Tilke estimates that a new pit building alone could cost the track 50 million euros.
“There would be enough space for it,” he explained, “and the track itself is absolutely suitable for Formula 1.”
August 17, 2024
The iconic Hockenheimring is undergoing a significant transformation, sparking intense speculation about its potential return to the Formula 1 calendar.
As we wrote below, the Emodrom group, stepping in as the new majority stakeholders, has pledged a substantial injection of funds to revitalize this renowned racetrack. With around €40 million (a drop in the bucket compared to what some circuits spend on upgrades) already funneled into various enhancements such as the expansion of the Porsche Experience Centre, the addition of a new hotel, and a Motorworld, the total investment is expected to soar to approximately €250 million over the next decade.
Tim Brauer, managing director of the Emodrom Group, commented on the work, as quoted by GP Blog:
“We have been working in the background for more than four years to further develop the Hockenheimring as a leading racing circuit and are now keen to realize future-oriented projects. Of course, we are also thinking about Formula 1, but we approach such considerations with great caution.”
“We are not going to do anything crazy financially, but we are trying to find ways to bring Formula 1 back to Germany.”
April 26, 2024
(GMM) Hockenheim has inched closer to reviving the defunct German GP.
Private investors have bought 75 percent of the well-known former Formula 1 circuit from the city of Hockenheim, raising hopes that the new owners could have the money to entice the sport back to Germany.
DPA news agency says the buyers are “five medium-sized companies”, with the deal already approved unanimously by the Hockenheim city council.
Hockenheim-based Emodrom Group admitted the purchase price was around EUR 5.5 million, with the city noting that the new owners also take responsibility for about 20 million euros in debt.
Emodrom said its plan is to invest up to 250 million euros into the Hockenheimring over the next five to ten years, including a hotel and 300 new jobs. Construction of what they’re calling ‘Motorworld’ is already scheduled for late 2025.
“As the management of Hockenheimring GmbH recently emphasized, everyone in charge at the Hockenheimring is striving for the return of Formula 1,” the company said.
April 10, 2024
(GMM) Germany Formula 1 circuits are hoping the sport will throw them a lifeline in 2026 by rotating races in alternating years.
Currently, with motor racing financing and fan interest having slumped in the country, neither Hockenheim nor the Nurburgring (shown above) are on the bustling annual F1 calendars these days.
However, F1 CEO Stefano Domenicali has been quoted by DPA news agency as hinting that a potential solution could be on the horizon.
Related Article: F1: Moves are afoot to revive the defunct German GP
“In 2026 you will see something interesting,” he said. “We are discussing with organizers in Europe to do something that will be announced soon.”
Without elaborating much further, Domenicali added: “There will be many grands prix, especially in Europe, where we have different options.”
It is believed one of those options could be a new scheme in which two or even more European events are rotated annually between single annual race slots.
Jorn Teske, the circuit boss at Hockenheim, admits that idea could revive the defunct German GP.
“We assume that Formula 1 is generally interested in Germany as a market,” he said. “We were, are and remain in contact with Formula 1 and are always exploring joint possibilities.
“We generally think very highly of a rotation model because it has proven itself in the past with our colleagues at the Nurburgring.”
Nurburgring spokesman Alexander Gerhard commented: “The be-all and end-all for us is the economic viability of an event.
“We are pulling together with the Hockenheimring,” he admitted.
Meanwhile, a delegation from South Korea – including the mayor of the city of Incheon – was at the Japanese GP last weekend for talks with Domenicali.
“I would like to thank Mayor Yoo Jeong-bok for personally attending the Japanese GP and actively expressing his intention to attract Formula 1,” said the F1 CEO.
“I will travel to Incheon as soon as possible to hold further discussions.”