State funding for EuroSpeedway MBO

The pair each owns 50 percent of the new company. Fischer, who is the CEO of the venture, commented: "We firmly believe in the potential of this still young motorsport and event facility, and we'll fight hard for its positive development in the years to come together with the people living in the region and important partners, such as the ADAC Berlin-Brandenburg."

The state's Economic Minister, Ulrich Junghanns, added: "The lease agreement gives the circuit and the region the required secure planning and offers the appropriate framework for a sale in the future."

Tomasetti, who has been the CFO since the track opened in August 2000, will stay in charge of finance and administration and, in addition, will head a technical department for the multi-functional facility. He said: "Mr Fischer and myself are prepared to take over an entrepreneurial commitment for EuroSpeedway Lausitz. We're glad that we've convinced the state of Brandenburg of the facility's potential to such effect that they've decided to make a significant financial contribution to its stabilisation and development in the years to come."