Northacker Says Rockingham's Silas Guilty Of "Stealing From A Non-Profit"

Vets-Help.org Executive Director Craig Northacker

Vets-Help.org executive director Craig Northacker responded today to statements made by Rockingham Speedway mortgage holder Bill Silas last week.

Northacker’s written response, submitted to the GodfatherMotorsports.com comment board, took issue with Silas’ contention that the North Carolina oval “should have gone on the auction block a long time ago,” saying, “the only reason (Rockingham) was not on the auction block is that I was to be given the opportunity to buy it. We had a deal worked out last year, but the other members in the triad refused to cooperate. I have spent hundreds of thousands of dollars as well trying to make it work, only to be thwarted time and again.”

In that response, Northacker claims that he assisted in paying down Rockingham’s $4-million note, saying, “We had it down to $2.7 million last year before the bank intervened, (then) did not sign the purchase contract.”

Northaker called the deal “lousy business,” adding, “I have offered to enable you to recover your losses from the track - for you to handle the massive amounts of construction we are entering in to. I have the purchase contract you recently sent me - I asked to make sure that no one else had claims, and that if Hillenburg was in bankruptcy that we had the permission of the Court appointed trustee.”

He also accused Silas of being “in conversation with people I was paying to get work done there without telling me,” terming those alleged conversations “stealing from a non-profit.

“I have a lease there, which you acknowledged and which I have insurance for that you are named as a loss payee on,” wrote Northacker. “And yet you deny me access wrongfully. The real sordid history of the track is being unraveled as we speak - it will not have a chance to get to auction.

“There is a lot more to the story,” he wrote. “But Dave Moody was uninterested in what we can do for our military and veterans there.”

Contacted by phone today, Northacker complained about a recent interview on Sirius XM NASCAR Radio’s Sirius XM Speedway in which he was “not allowed to speak about the plans we had to turn Rockingham into a Reintegration Center for military veterans.”

He alleged that in the approximately 15-minute interview, this writer “continually steered the conversation away from our plans and back to racing.” Reminded that the channel caters to a NASCAR-centric audience that was primarily interested in the racing aspects of his plan, Northacker replied, “So you’re not interested in helping our veterans,” before abruptly hanging up.

Here is Northacker’s written esponse, in its entirety:

"Billy, the only reason it was not on the auction block is that I was to be given the opportunity to buy it. We had a deal worked out last year, but the other members in the triad refused to cooperate. I have spent hundreds of thousands of dollars as well trying to make it work, only to be thwarted time and again. Why are you asking me for $ 4.1 million, only to turn around and auction it? There is a lot more to the story - but Dave Moody was uninterested in what we can do for our military and veterans there. Actions speak louder than words, Billy. Why do you not want to let me do what we started - turn it into a reintegration center? You paid $ 4 million for the note when we had it down to $ 2.7 million last year before the bank intervened. Then did not sign the purchase contract. This is lousy business - I have offered to enable you to recover your losses from the track - for you to handle the massive amounts of construction we are entering in to. I have the purchase contract you recently sent me - I asked to make sure that no one else had claims, and that if Hillenburg was in bankruptcy that we had the permission of the Court appointed trustee. A couple of weeks later after no answer, without telling me, you put the track up for auction. And it appears you have been in conversation with people I was paying to get work done there without telling me. That is stealing from a non-profit. You told me recently that you had $ 400,000 in escrow from another buyer, but that you wanted the veterans to have the track. Your attorney belied that sentiment with his comment that my concerns over 10,000 veteran suicides was mere "diatribe". You reinforced that sentiment by your actions now. I have a lease there, which you acknowledged, and which I have insurance for that you are named as a loss payee on. And yet you deny me access wrongfully. The real sordid history of the track is being unraveled as we speak - it will not have a chance to get to auction.”