Lausitz future assured

The future of the financially troubled EuroSpeedway Lausitz combined road and oval race track in eastern Germany has been assured until 2008 at least, thanks to a management buy-out of its lease

Lausitz future assured

The circuit had been insolvent since June 2002, when the banks that funded the track couldn't agree on its financial structure. But longtime circuit boss Hans-Jorg Fischer has now reached a deal with his finance chief Matthias Tomasetti to lease the track for five years from 2004.

For this period, the State of Brandenburg, one of the prime movers behind the build of the impressive venue, will support the operation of the track with a €2.5million investment. Fischer and Tomasetti will each hold 50 per cent of the shares in the company that owns the lease.

"We firmly believe in the potential of this still young motorsport and event facility," said Fischer. "We will fight hard for its positive development and establishment in the years to come, together with the people living in the region and important partners, such as the ADAC Berlin-Brandenburg."

Tomasetti said: "Mr Fischer and myself are prepared to take over an entrepreneurial commitment for EuroSpeedway Lausitz. We are glad that we have convinced the State of Brandenburg of the facility's potentials to that effect that they have decided to make a significant financial contribution to the stabilisation and development in the years to come."

Ulrich Junghanns, minister for economy in the State of Brandenburg, said: "The lease agreement gives the ring and the region the required secure planning and offers the appropriate framework for a sale in the years to come."

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Two DPWM rounds with ETCC in 2004

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