German auto parts company Capricorn Group won the bidding for the Nurburgring race track and accompanying hotel, strip shopping, arena and theme park for $138.6 million.
The track was formerly public owned and was in debt over $500 million when they declared bankruptcy in 2012.
Capricorn plans to knock the hotel and theme park down to make room for an Automotive Technology Center to foster cooperation between universities and automotive tech companies.
Capricorn will take full control of the track in January 2015. Until then the track and hotel are open to the public.
Nobody is sure how long the public will have access to the track once Capricorn takes over, so get there soon if you’re planning on taking any laps!