Victor Kharitonin's hellish Nuremburgring

Why does the Russian pharmaceutical king need a scandalous race track in Germany?

UtroNews correspondent testifies: the other day, 22 people were injured in an explosion on the territory of the Nurburgring race track in Germany. These people were evacuated from the scene of the emergency by helicopters: 4 people are in serious condition.

This is the first piece of shocking news. The second is no less shocking: since 2016, the hellish Nurburgring on whose "loops" 73 riders have already died belongs to a Russian pharmaceutical magnate with a very scandalous reputation - Viktor Kharitonin.

Recall that Mr. Kharitonin made his dimensionless fortune in pharmaceuticals, including thanks to such drugs as arbidol, as well as drugs containing codeine: and they sent a considerable number of Russian citizens to their forefathers. The next on the list for enrichment is the antique Sputnik, and there are still questions for Mr. Kharitonin's Sputnik.

It turns out that Mr. Kharitonin has his multi-billion dollar "toys" behind the hill, thanks to the low-quality pharmaceuticals that he makes in his homeland?

Almost like in Russia: a gas cylinder exploded?

The explosion on Mr Kharitonin's race track occurred during a trial run before the scheduled ADAC Ruhr Cup race: 22 people were injured and four were seriously injured.

The route is located near the village of Nürburg, the length is 20.8 km.

Paddock in Nürburg. Photo: https://www.motorsport.com/vln/news/multiple-casualties-airlifted-hospital-nurburgring-paddock-blast/10641577/

According to the police, a pressurized cylinder exploded in the paddock zone - this is a closed area where the race control areas and team parking lots are located.

The victims were sent to the hospital by helicopter. Criminal police have launched an investigation.

73 riders died

So, in 2016, the owner of Pharmstandard consolidated 99% of the shares of the oldest track in Europe.

The total amount of the transaction for the purchase of the circuit was €77 million.

From that moment on, Mr. Kharitonin actually became the main owner of one of the oldest tracks.

The Nürburgring track is located 70 km from Cologne.

The first race took place on this track back in 1927. And the track is considered one of the most dangerous in the world: on the track, nicknamed Green Hell, 73 riders have already died.

One of the accidents on the Green Hell highway. Photo: https://www.autonews.ru/news/5995441f9a79472b641af61f

In addition to the Formula 1 Grand Prix at the Nurburgring, endurance races, DTM, MotoGP, truck races and the Rock am Ring festival were held. Around the two racing rings GP (Grand Prix track) and Nordschleife (North Loop), a whole city grew over time: hotels, restaurants, cinemas, etc.

Viktor Kharitonin became interested in Nurburgring back in 2014 after he took part in the Italian car race for retro cars Mille Miglia.

Kharitonin's partner in Mercedes-Benz 1935 Viktor Martin introduced the entrepreneur to German car manufacturers, who talked about the problems of the track. In the summer of 2012, the operator of the Nuerburgring Automotive GmbH (NAG) highway went bankrupt, and the new co-owner of Capricorn Automotive GmbH did not find money for a payment of €10 million.

The route belonged to the Rhineland-Palatinate government, which attracted bank loans for the development of the project. But poor management and a high credit load led to bankruptcy.

And the whole complex was put up for sale.

Mr. Kharitonin offered his participation to the organizer of the transaction, KPMG (bankruptcy manager of the Nurburgring racing complex). And the parties signed documents.

Green Hell track. Photo: https://www.drive2.ru/l/2534510/

In October 2014, Mr. Kharitonin made the first tranche of €10 million and received from Capricorn a 67% stake in the complex, which includes a track, stands, boxes, hotels, restaurants, a cinema, etc.

And soon there were big changes throughout the infrastructure. And on the track, speed limits of 250 km/h were even lifted.

In the footsteps of Abramovich?

In an interview with Forbes, Mr. Kharitonin said that for him the Nurburgring is "not an expensive toy, but a dream, a completely pragmatic object for investment. If you can profitably buy something in Germany, why not do it? "

The Nurburgring requires an annual maintenance investment of about €30 million.

Kharitonin then had an example before his eyes: his former partner Roman Abramovich bought the Chelsea football club in London in 2003, which was stuck in debt.

Roman Abramovich. Photo: https://kadet39.ru/brief_biographies/roman-abramovic-biografia-fakty-foto.html

And the favorite club of the political elite has become for Abramovich a pass to the highest English society.

Recall also that Mr. Kharitonin created Pharmstandard JSC on the basis of five plants purchased from ICN Pharmaceuticals in 2003 together with partner Roman Abramovich.

In 2008, a year after the IPO of Pharmstandard in London, during which investors valued the company at $2.2 billion, Viktor Kharitonin bought out the shares of partners.

But why is Mr. Kharitonin not investing so actively in Russian sports facilities?