ROCKINGHAM — The purchase of Rockingham Speedway was officially announced late Friday morning, with no details as to future plans.
Rockingham Properties LLC bought the former NASCAR track Thursday afternoon for $2.8 million.
A press release from the company simply said the company “will announce further develpoments and specific plans very soon.”
However, it did include the new website (therocknc.com), Facebook page and Twitter and Instagram accounts.
County Manager Bryan Land called the announcement “a great day for the citizens of Richmond County.”
“The N.C. Motor Speedway has been a part of our history and heritage since 1965 when Bill Land, Harold Brasington and Elsie Webb had a vision to build a state of the art facility in rural Richmond County,” he said. “I am extremely ecstatic about the opportunities that lie ahead for the 245-acre property.”
The county manager is the grandson of Bill Land, who owned the property where the speedway sits.
Land said county leaders have been working “tirelessly” with Iron Horse Properties since the speedway went on the market nearly two years ago, and with owners Dan Lovenheim, a Raleigh nightclub owner, and Frank Bloom and their team for the past six months to reach an agreement.
The property deal closed a month ahead of schedule, according to Iron Horse’s Marc Baysek.
“It has been a travesty to see this property sit dormant for the last five years,” Land said. The last race at the speedway was a NASCAR Camping World Truck Series event in 2013.Â
In 2016, the main track was used for tire testing and the smaller track for driving evaluations. At that time, Vets-Help.org had a lease agreement with then-owner Andy Hillenberg, which was apparently terminated after Bill Silas’Â BK Rock Holdings LLC bought the lien from Farmers and Merchants Bank. Prior to that, the bank had started legal forclosure proceedings against Hillenberg and Silas.
The property went to public auction in May of that year, with an attorney for the holding company placing a $3 million credit bid.
The Rockingham track was a fan and driver favorite for nearly 40 years.
“Their primary focus for the speedway will be even promotions. However, we are ope-minded to other opportunities,” Land added. “This new venture will help strengthen not only Richmond County, but regional economies by generating opportunities for local businesses to expand and thrive. We are anticipatig a multi-million dollar impact to our local economy.”
Land said the county “will work hand in hand with the new owners to market and advertise any future events to generate sales tax and the facility by bringing visitors to the area.”
“Everyone is ready to roll up our sleeves and revive The Rock!” he concluded.
