ROCKINGHAM -- The famed Rockingham Speedway has officially changed hands after nearly two years of being on the market.
Marc Baysek of Iron Horse Properties confirmed that a new deed transferring ownership to Rockingham Properties, LLC was recorded late Thursday afternoon.
The original asking price when Iron Horse listed the property in November 2016 was $3.795 million, but reduced to $3.695 at the time of the offer, according to Baysek. However, the final selling price was $2.8 million, he said.
The 252-acre property includes the 1.017-mile oval track, the half-mile track, parking areas and all other improvements.
The sale was closed about a month ahead of schedule, Baysek said.
"We're excited," said Kenneth Robinette, chairman of the Richmond County Board of Commissioners. "It's a huge deal. We're known by The Rock."
Robinette said the new owners, who include Raliegh club owner Dan Lovenheim, "can turn this thing into something that can bring an economic base to Richmond County" and "hundreds of millions of economic impact for this part of North Carolina."
"These guys are visionaries and think way outside the box," he added. "I wish I had the vision (they have)."
The Speedway has been mostly idle since the NASCAR Camping World Truck Series race in April 2013.
The track was put up for public auction in May of 2016, after co-owner Billy Silas had paid the lien put on the property by Salisbury-based Farmers and Merchants Bank. An attorney for BK Rock Holdings, LLC, put in a $3 million credit bid at the auction.
"This is great news for our county," said Commissioner Ben Moss. "This property will now be put back to use. Our citizens will be amazed at what will be going on out there. This will bring lots of revenue back to our county."
However, the two commissioners were hesitant to give specifics on the new owners' plans.
A press release is expected early Friday morning.
