As expected, in its latest published accounts the Nurburgring has posted a loss.

For the period 2004-2005, Nurburgring GmbH has lost over $20m, with the blame laid almost entirely on the Formula One Grand Prix. Indeed, Nurburgring GmbH's Walter Kafitz told Deutsche Presse Agentur: "With the exception of Formula One, we are in the black for all our other activities."

Though some of the blame for the loss is also attributed to rising wage levels, lower attendance figures for the Grand Prix, combined with the rising cost of hosting the event, have hit the Nurburgring - and a number of other circuits - hard.

Furthermore, it is widely predicted, despite talk of a 'new era' in F1, the loss of Michael Schumacher will lead to a general lack of interest in Germany, thereby leading to further losses.

With Hockenheim also losing money, and F1 organizers keen to re-draw the F1 map, from this year the two German tracks will host the German Grand Prix in alternate years, with the Nurburgring hosting the 2007 event.

As part of its plan for the future, Nurburgring GmbH, as well as focussing on other (profitable) motor sport events, is looking at a massive redevelopment project, including hotels, business facilities and a golf course, thereby bringing more revenue into the region. The company is hopeful that much of the cost will be raised by private investors.

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