ECJ Orders State Aid Review Of German Racetrack Sale
By Joseph Boris (September 2, 2021, 8:55 PM EDT) -- A motor sports trade group and the losing U.S. bidder for Germany's Nürburgring racetrack are entitled to have the European Union competition regulator reconsider whether the sale of the facility involved illegal state aid, the EU's top court ruled Thursday.
The decision partly reversed that of the EU General Court, which in June 2019 affirmed that the high-profile sale of the famed Nürburgring track had been legitimate, following complaints from motor sports group Ja zum Nürburgring eV and Tennessee-based race technology company NeXovation Inc., which had sought to buy the track. Both claimed that the process was unclear and unfair....
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