SEPTEMBER 4, 2002
A dream fades
The Lausitzring filed for protection against its creditors recently but it nows seems that the debts are too big to be able to save the company and the whole project is expected to go into receivership shortly. It is believed that there are several potential buyers for the facility in the old East Germany.
The Euro Speedway was built in 2000 in the hope that it would help to boost tourism and jobs in the area. It featured a huge oval and a road course which was designed for Formula 1 cars. The state government invested over $120m in the program but the facility quickly ran into trouble when it failed to get the German GP.
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