Deadline nears for sale of historic Rockingham Speedway

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According to a story in the Richmond County (N.C.) Daily Journal, owners of the Rockingham Speedway have only three days to sell the former NASCAR oval in North Carolina or agree to auction it off to avoid foreclosure.

The deadline for the signing of a sale or auction agreement is this Thursday (New Year’s Day), and if a sale is not reached, the track must go on the auction block by March 15, 2015.

This past September, a Superior Court judge issued a temporary restraining order that allowed track co-owners Andy Hillenberg and Bill Silas more time to hammer out an agreement with N.C.-based Farmers & Merchants Bank. The bank had taken the two to court over the failure to pay back a loan of $4.2 million on the speedway property.

Then in October, the same judge, David Lee, signed a consent order that allowed current track ownership to find a new owner or arrange an auction by Jan. 1. The Daily Journal reports that since October, no other legal filings have been added in the case according to the Richmond County Clerk of Superior Court’s office.

“The Rock” hosted the NASCAR Sprint Cup Series from 1965-2004, and recently attempted a comeback on the NASCAR scene with Camping World Truck Series events in 2012 and 2013. But the track’s current financial problems ultimately spelled the end of the Trucks at the one-mile oval.