Rockingham Speedway News

(was NORTH CAROLINA SPEEDWAY)

Phone: (910) 205-8800

Address:
2152 US Hwy 1
Rockingham, NC 28379

Location:
Richmond County, 10 miles North of Rockingham and 20 miles South of Pinehurst/Southern Pines on Highway US 1.

Grandstand Seating: 60,113

Track Websites:
(website no longer works)
Rockingham Speedway - Facebook


Track News and Announcements

  • No upset bids in Rockingham Speedway sale; new owner: Billy Silas is now the owner of Rockingham Speedway. There were no upset bids following the credit bid of $3 million made by James Hash - a Raleigh attorney representing BK Rock Holdings, managed by Silas - during a public auction May 5, according the Richmond County Clerk of Superior Court's office. An upset bid of $3.15 million would have had to have been made by Monday, which would have restarted a 10-day period for other bids. Since the bid from BK Rock was the prevailing bid, the Florida-based limited liability company now owns the property and net proceeds from the sale will be credited toward the debt, according to what Hash told the Daily Journal previously. The future of the historic track remains in question. Kenneth Robinette, chairman of the Richmond County Board of Commissioners, said the county has always been supportive of Rockingham Speedway and will work with Silas, or whoever winds up owning the track, to help promote it. "The county is very pro-business and is behind anybody that's going to bring jobs and economic development into the area," he said. "Hopefully he's got some ideas to bring racing back here."(Richmond County Daily Journal)(5-20-2016)

  • Bid made for Rockingham Speedway: The highest of the two bids made for Rockingham Speedway Thursday morning came from the company that owns the lien. James M. Hash, a Raleigh attorney representing BK Rock Holdings, placed a $3 million credit bid during a public auction at the Richmond County Judicial Center. According to court documents, Billy R. Silas is the manager of the Florida-based limited liability company that purchased the promissory note from Farmers and Merchants Bank on Nov. 17, 2015. An initial bid of $100,000 was made at 11:12 a.m., then, after no other offers were made, Hash stepped up to announce his client's bid. If it turns out to be the prevailing bid, then BK Rock Holdings would own the property and net proceeds from the sale would be credited toward the debt, he said. Documents show the original loan taken out when former driver Andy Hillenburg bought the track in 2008 was for $4.2 million at 6.875 percent interest. The loan was set up to be paid with 59 monthly payments of $32,497.85 starting Nov. 16, 2008 and being paid in full by Oct. 16, 2013. A letter sent to Hillenburg - as well as Bryan and Kim Silas, who are listed as member/managers of Rockingham Raceway Park, LLC - by Hash on Feb. 17, shows the total owed on the October note as $4,305,593.92 and that of a July 2008 note as $617,827.44. The amounts include principle and accrued interest, but not attorneys' fees and costs.
    Per statute, the clock started ticking on a 10-day period for an upset bid once the bid was filed with the Richmond County Clerk of Superior Court's Office. "Any person may submit an upset bid," Hash said. "It makes no difference whether the person attended today's sale." An upset bid - which must exceed the sale price by a minimum of five percent - must be filed with the clerk's office, with the bidder making a deposit of at least five percent, he said. As it currently stands, an upset bid of $3.15 million with a $157,500 deposit must be made by May 16.(Richmond County Daily Journal)(5-7-2016)

  • Rockingham Speedway scheduled for public auction: A year after the deadline for a court-ordered sale, the legendary Rockingham Speedway is going on the auction block. According a notice of foreclosure sale filed in Richmond County Superior Court on April 7, the property will be sold "to the highest bidder for cash" at a public auction May 5. The notice states the sale will include "the real property, together with all rights, privileges and appurtenances thereto...and the personal property described in the deed of trust." It goes on to state that the property will be sold subject to any and all matters superior to the lien of the deed of trust, including: superior mortgages, deeds of trust, liens and assessments, if any; the lien of unpaid ad valorem taxes; valid and enforceable easements and restrictions of record; and matters which would be revealed by a current and accurate survey of the property. "The property will be sold 'as is, where is,' the notice continues. "Neither the substitute trustee nor the holder of the debt secured by the deed of trust, nor their respective officers, directors, attorneys, employees, agents or authorized representatives, make any representation or warranty relating to the title or any physical, environmental, health or safety conditions existing in, on, at or relating to the property, and any and all responsibilities or liabilities arising out of or any way relating to any such conditions expressly are disclaimed." Raleigh attorney Louis E. Wooten Jr. was named substitute trustee in February, according to records filed with the Richmond County Register of Deeds. The sale will open at the Richmond County Courthouse at 11 a.m., and will be held open for 10 days for upset bids as required by law. Kenneth Robinette, chairman of the Richmond County Board of Commissioners, speculated that the foreclosure could be an attempt to "get rid of some partners" and move forward in bringing racing back to the track.(Richmond County Daily Journal)(4-13-2016)

  • Racing at Rockingham in doubt again: Plans to bring racing back to Rockingham Speedway have hit a wall. James Martin, of Level 1 Motorsports in Union County, announced on Facebook Monday night that the inaugural season for the X-Cup Series "is at least temporarily on hold." An open test was planned for this coming Sunday so drivers could get their cars on the track to prepare for the opening race on April 23 - the first scheduled at the storied speedway in three years. Martin said he learned speedway co-owner Bill Silas - who holds the lien on the property and is a partner with Andy Hillenburg in Rockingham Raceway Park LLC, which owns the track - terminated the lease Vets-Help.org had signed with Hillenburg. "I was kind of as blown away as anybody else," he said. Martin then called the drivers to tell them the news. "I did what I felt was best." However, Craig Northacker says the lease is still valid and a purchase agreement is in negotiation. "As far as I'm concerned, we're still on track to do what we're going to do," said Northacker, executive director of Vets-Help. Despite the caution flags, Jim Blankenbaker [vice president of operations and development for Vets-Help] said he and Curt Trent - who was vice president of motorsports and automotive programs - are still trying to move forward and there are "conversations going on trying to salvage something in 2016," which could possibly include the X-Cup Series. "If there's a way to do something, we're doing it," he said. "There's too much synergy not to be able to pull something off." Records with the Richmond County tax office show a payment of $11,350.61 - $9,324.91 for taxes plus $1,965.70 in interest and a $60 lien cost - was made March 21. Another payment of $47,189 was made Tuesday, zeroing out the speedway tax bill.(Richmond County Daily Journal)(4-7-2016)

  • Super Cup Stock Car Series expected to race at Rockingham UPDATE: The Super Cup Stock Car Series is reportedly going to close its 2016 schedule with a race at Rockingham Speedway, the former NASCAR track that's been idle for almost three years. SCSCS has operated for eight seasons, primarily in the northeast but extending as far west as Columbus, Ohio. Its 2016 schedule currently lists eight dates, but half of those are shown as "To Be Announced." The track last hosted racing in April 2013 with a NASCAR Camping World Truck Series event. According to the Richmond County Daily Journal, Farmers and Merchants Bank began foreclose proceedings against owners Andy Hillenburg and Bill Silas, accusing them of defaulting on a $4.2 million loan. The lien has since been assigned to BK Rock Holdings of Stuart, Florida.(Fayetteville Observer)(12-15-2015)
    UPDATE A Union County-based motorsports team is planning to bring affordable racing back to Rockingham Speedway in 2016. James Martin of Level 1 Motorsports said his group is creating a new race series, the X-Cup Series, to race at the legendary track, which will "hopefully" start in April. "They're all gonna be ran at Rockingham," he said in a recent telephone interview, adding it would be a 10-race series with eight events on the 1.017-mile track and two on the infield road course. "We're finalizing the final rules package now." According to Martin, 15 drivers have signed up to run, but halfway through the series he expects to be at full capacity with a field of 32 cars. As the Daily Journal reported last month, the Super Cup Stock Car Series has listed "The Rock" on its 2016 schedule, with a race and awards banquet slated for Oct. 15. Joe Schmaling, the series' director of competition, said organizers plan to "leave the track in October with a confirmed date or two for 2017." The National Auto Sports Association also has an event, the Firecracker Run, scheduled for July 2-3. Craig Northacker, executive director of Vets-Help, announced plans last January to purchase the track and turn it into a center to assist veterans with reintegrating into society. Records show he entered into a commercial lease agreement with speedway co-owner Andy Hillenburg in late 2014. The term of the lease was for one year, ending Oct. 31, 2015, and set to renew automatically unless terminated with 60 days written notice. A copy of a check included with the document, filed in October of 2015, shows the rental fee to be $1. One tentative name for the track is Rockingham Veterans Speedway, though Northacker said a final designation has yet to be decided. He said he wants to keep Rockingham in the name, but would also like to signify the track's new life.(Richmond County Daily Journal)(1-11-2016)

  • Veterans' Charity plans to buy Rockingham Speedway: The troubled Rockingham Speedway could soon have new life. A judge gave owners a Jan. 1 deadline to find a buyer or put the property up for auction in March. A veterans charity called Help-Vets.Org (looks like it is supposed to be vets-help.org) told Channel 9 that it plans to buy the track and the property and turn it into a reintegration center for veterans. "What's key about this property is Camp Mackall, the training center for Special Forces, is six miles down the road -- Fort Bragg is right here," Help-Vets.Org Executive Director Craig Northacker said. Northacker has big ideas for a $50 million investment, including housing, vocational training and even schooling. Richmond County Community College spokesman Andy Cagle told Channel 9 that the office met with Northacker. "RCC has always taught classes in off-campus locations across our service area, and would welcome any viable opportunity to support our veterans, the local economy and continue the rich traditions of racing in Richmond County," said Dale McInnis, RCC President. City and county officials are skeptical. Richmond County Manager Rick Sago said he hasn't seen any real financing plans. "We'll see when the rubber hits the road what really happens. Bottom line is, it is a speedway, it has been since the '60s and that's what we want is a racetrack," Sago said. "We have talked to JP Morgan Chase," Northacker said. "There is another financing group in Florida, and we're speaking with Royal Bank of Canada." According to Northacker, the group is in the process of getting the property appraised and hopes to close on the property in mid-March. Channel 9 spoke to one of the speedway owners, Andy Hillenburg. He acknowledged conversations with Northacker but said he couldn't comment on the ongoing legal matter.(WSOC and Richmond County Daily Journal)(1-20-2015)

  • No word on Rockingham Speedway sale or auction: Owners have yet to announce a sale or auction of Richmond County's NASCAR track following a Thursday deadline for the court-ordered deal. Superior Court Judge David Lee's Oct. 14 consent order required Rockingham Speedway owners Andy Hillenburg and Bill Silas to "enter into a binding agreement with a third party for the sale or other disposition" of the track by Jan. 1 in order to avoid foreclosure. No new documents have appeared in the case file since Dec. 15, and it remained unclear Friday whether Hillenburg and Silas had met the New Year's Day deadline. Lee's order does not require that a sale or auction agreement be on file with the Richmond County Clerk of Superior Court's office by a specific date. A Friday phone message left for Hillenburg was not returned in time for this story.(Richmond County Daily Journal)(1-3-2015)

  • Deadline nears for Rockingham Speedway sale: Owners have three days to sell the historic Rockingham Speedway or agree to auction off the property in order to avoid foreclosure. The clock is ticking on Superior Court Judge David Lee's October consent order, which set a Thursday deadline for the signing of a sale or auction agreement on the former NASCAR track. The speedway must change hands or go on the auction block by March 15. Unless a last-minute extension is granted, the Oct. 14 consent order calls for a sale or auction agreement to be signed on New Year's Day. As of Monday afternoon, no legal filings in the case had been added since October, according to the Richmond County Clerk of Superior Court's office. Co-owner Andy Hillenburg said in October he hopes to bring racing back to the Rockingham Speedway with the help of the as-yet-unnamed group of investors. If a private sale falls through, the consent order calls for Hillenburg and co-owner Bill Silas to sign an auction agreement. If neither a sale or an auction is scheduled, the foreclosure complaint is likely to come back before the judge.(full story at the Richmond County Daily Journal)(12-30-2014)

  • Rockingham Speedway avoids receivership UPDATE: Like a real-life Rocky Balboa' Andy Hillenburg refuses to stay down. After spending the last seven years battling to revive the legendary Rockingham Speedway' the former ARCA racing champion has taken his share of lumps. Hillenburg and his partners returned NASCAR racing to The Rock in 2012' when the track hosted an event on the NASCAR Camping World Truck Series. The Trucks raced there again in late 2013' but a NASCAR K&N Pro Series East event scheduled for November of last year was cancelled' with the sanctioning body saying that the track "failed to meet its obligations." Since then' there has been little in the way of good news from the Richmond County oval. Until [now]. Battered' bloodied' but unbowed' Hillenburg climbed off the canvas yet again ....' confirming that after a hearing in Richmond County Superior Court' a new plan is in place to save the track from financial receivership. Farmers and Merchants Bank of Salisbury' NC' had asked that the track be placed into receivership as a first-step toward seizing control of the facility and putting it up for auction. However' with the assistance of a group of advisors' Hillenburg has assembled a new business plan that he hopes will put the speedway back on solid financial ground. "We went in front of a judge recently and presented our proposal'" said Hillenburg. "We explained that we need 90 days to perform the necessary due diligence' and he issued a Bridge Order to continue the case until today. Now' he has approved our request' and the speedway will remain in our hands." Hillenburg stressed that the deal is not yet complete' saying' "Our request was for the procedings to be delayed' in order to allow us to assemble a new financial plan. We now have until Jan. 1' 2015 to finalize a workable financial plan with our new partners. Our goal is to return racing to The Rock' put the track on solid financial footing and continue to make a positive contribution to our community."(Godfather Motorsports)(10-16-2014)
    UPDATE: The Rockingham Speedway, formerly the North Carolina Speedway, is going to be sold for the second time in less than a decade because its current owners have run into financial trouble. Back in 2012, Andy Hillenburg did what a lot of people thought was impossible and brought NASCAR racing back to a track that it left. The NASCAR truck series came back in 2013, but didn't get a race date this year. NASCAR also cancelled a minor league event there as well. Now we know the track has hit hard times. Court documents now show Hillenburg and his co-owners owe more than $4 million in loans and taxes, and the bank threatened to foreclose. To avoid that, Hillenburg agreed last week to sell or auction off the track. NBC Charlotte was unable to contact the owners on Monday, but court documents say there has to be a sale or auction in place by the first of the year, and a new owner in place by March 15, 2015. Hillenburg paid a little more than $4 million to buy the track at auction in 2007.(WCNC)(10-21-2014)

  • Bank may take possession of Rockingham Speedway UPDATE: A Richmond County Superior Court judge will hear a motion next week which, if granted, will allow The Finley Group - a managing agent for Farmers and Merchants Bank - to "take immediate and exclusive custody" of Rockingham Speedway. The Salisbury, N.C.-based bank is also seeking a temporary restraining order to prevent the track's current co-owners Andy Hillenburg and Bill Silas from accessing the property located on U.S. 1 in Richmond County. The bank claims Rockingham Racing Park LLC, co-owned by Hillenburg and Silas, owes more then $4.5 million as of Aug. 8. The motion is set to be heard at 2:00pm Sept. 25.(Charlotte Observer)(9-19-2014)
    UPDATE: An eleventh-hour deal that could save the Rockingham Speedway from foreclosure is in the works following closed-door negotiations Thursday. Superior Court Judge David Lee extended a temporary restraining order to allow attorneys for speedway co-owners Andy Hillenburg and Bill Silas more time to hammer out an agreement with Farmers & Merchants Bank of Salisbury that would stall foreclosure proceedings. Court filings show that lawyers for the speedway's owners had been in discussions with the bank's attorneys to sell the 1.017-mile track at a private auction under a forbearance agreement that would halt F&M's seizure of the speedway property. F&M Bank attorney David M. Schilli requested the order on behalf of the plaintiffs and said the restraining order could be extended "for a very brief period of time so that we can go back and draw up another order that will be tendered to the court with all the parties' consent." Hillenburg and Silas were required to turn over all locks, keys and access codes to the track while the bank's verified complaint for default on a $4.2 million loan works its way through the court system. The bank and its management company may not "enter into any contracts for the marketing, listing or sale of the property" while Lee's Sept. 8 order is in force.(in part from the Richmond County Daily Journal)(9-27-2014)


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