Lausitzring files for bankruptcy

Cloudy future ahead for Germany's Lausitzring?

Picture: EuroSpeedway

Germany's EuroSpeedway Lausitz circuit has applied to its local court for insolvency, although its immediate future is not thought to be in jeopardy.

The eastern German circuit cost over £100 million to build, with nearly £80 million in government grants. Despite the prodigious investment, however, it has racked up losses since it was completed in 2000.

All racing events at the circuit- which hosts rounds of the CART Championship, DTM, ASCAR and World Superbikes - will continue until the end of the season, with the regional government keen to find potential buyers.

"We believe that all motorsport events will take place this year as scheduled," said spokesman Mark Lenze. "It's too early to say anything about the long-term future at the moment, but we hope to be able to reveal more details in the middle of next week."

Since opening in August 2000, the circuit near Dresden has been dogged by bad luck, with a number of unfortunate accidents including the fatal crash of ex-F1 star Michele Alboreto and the death of a marshal in separate incidents. Last year, double CART champion Alex Zanardi lost both of his legs in an horrific crash during the inaugural German 500 CART race - an event which was already overshadowed by the events of September 11.

However it is not the only German circuit in financial trouble; the nearby Oschersleben circuit is in similar difficulties, but has continued to operate as usual.

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