The administrator handling the affairs of the bankrupt Nurburgring operation has revealed that he had received several bids from parties interested in securing the future of the facility.

With its operating company having been declared insolvent, the fate of the famous old venue remains in limbo, despite its standing as possibly the greatest circuit of all time.

The Nurburgring ran into serious financial trouble after plans to build a motorsport theme park alongside the circuit proved to be EUR350m bust. When private investment did not materialise, funds had to be drawn from the public purse and, while the loans were forthcoming in the interests of securing promised jobs and income for the Eifel region, the project failed on a business level, leaving the circuit with massive debts.

The problem was exacerbated by the European Union's refusal to agree to a EUR13m bail-out to service the EUR300m loan from the state-owned Bank of Rhineland-Palatinate, which would allegedly have prevented the facility from tumbling into administration. The venue is now listed as bankrupt and faced being sold off to developers unless it was rescued by a white knight.

All bids to buy the venue had to be lodged by September and, despite scotched reports that Bernie Ecclestone may have been interested in the complex, various news sources cited the likes of Red Bull team owner - and A1 Ring proprietor - Dietrich Mateschitz, German automobile club ADAC and even current track boss Jorg Linder as potential bidders.

"The Nurburgring is, without a doubt, the cradle of German motorsports," ADAC president Peter Meyer told Reuters, "It's an automotive cultural treasure."

More recently, it has been suggested that Germany's assorted auto manufacturers may join the throng, particularly with the Nordschliefe's testing 13-mile layout having proven popular for development purposes. Reports suggest that the venue typically generates an annual revenue of EUR50-60m and has underlying profits of EUR6-8m.

Law dictates that any buyer must keep the circuit open to the public and the motor industry, despite the infamous layout seeing over 200 accidents and three deaths in the last two years. Although the majority of users are enthusiasts determined to test their mettle - and machines - against the legendary 'Green Hell', the circuit also stages manufacturer test days 'behind closed doors'.

Administrator Thomas Schmidt confirms that he has received 'a sufficient number of legitimate non-binding bids for all Nurburgring assets' and said that he hoped a sale could be concluded early in 2014.