A Russian billionaire now owns 99 per cent of the ‘Ring

The Nürburgring – one of the most frightening racetracks in the world and a proving ground for countless performance vehicles over the years – is now almost entirely in the hands of a Russian.

Viktor Kharitonin, who co-founded a multi-billion dollar pharmaceutical company in his homeland in 2003, bought an 80 per cent stake in ‘The Green Hell’ in 2014 after the track ran into financial difficulties.

Back then it shared the rights to the German Grand Prix with Hockenheim (which is due to host the race again this July), but it was scratched from the 2015 calendar after failing to agree a deal with Formula One Management's Bernie Ecclestone.

The ‘Ring is due to return to the F1 fold in 2017, although talks to confirm this are yet to take place.

The additional 19 per cent share bought by Kharitonin this week is said to have cost just shy of £30 million, bringing the overall figure spent acquiring the 99 per cent stake up to about £60 million.

German company GetSpeed owns the remaining 1 per cent share in the circuit.

Perhaps this will lead to a spike in dashcam track action winding up on YouTube...