Red Bull founder and billionaire Dietrich Mateschitz is set to become the owner of the Salzburgring race track.
The deal's inception started back in September 2015 and is now in its closing stages as lawyers complete the necessary paperwork to formalise the change of ownership.
Already the owner of the Red Bull Ring in Spielberg, Matechitz has acquired the the 4.2km racing complex near Salzburg for an estimated EUR 3 million.
The Austrian entrepreneur has apparently chosen his 'Distribution & Marketing GmbH' company, of which he is the sole owner, to conduct the transaction.
Mateschitz plans on upgrading the Salzburgring's infrastructure before moving several events currently staged at the Red Bull Ring over to Salzburg with the aim of providing the complex with new momentum.
The race track, lying in a narrow alpine valley east of Salzburg, was first opened in 1969. In spite of its simple layout, made up of two long straights and a sweeping fast long curve, it garnered a fearsome reputation for the high speeds reached on the straights and through the renowned "Fahrerlagerkurve".
In recent years, the track mainly hosted touring car races but it was also the home of the Austrian Motorcycle Grand Prix from 1971 to 1994 and a few Formula 2 races in the seventies.
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