Ownership of the historic North Carolina speed plant was assumed today by a Florida-based holding company owned by Bill Silas, who was a former stakeholder in the track along with partner Andy Hillenburg. Silas’ BK Rock Holdings entered a $3 million bid for the property at a public auction on May 5, and that bid was accepted this week when an additional period for “upset bids” passed with no further interest.Journal.
North Carolina’s Farmers and Merchants Bank initiated foreclosure proceedings on the track in late 2014, with a judge eventually placing the property into receivership. Silas’ $3 million bid will be used to pay remaining creditors, leaving the track to move forward debt-free.
Silas has not spoken directly of his plans for the facility, but told GodfatherMotorsports.com in mid-April that he does not believe the track can ever again succeed as a racing-only venue.
“It can’t be just racing,” he said. “Two or three races a year will not begin to pay the bills. The track needs other (non-racing) events to draw people in. The place is totally underutilized.
“Rockingham will never be just a race track, ever again,” he said. “Look at Charlotte Motor Speedway. There is something going on there just about every day. They have 2-3 major racing events each year, but they’re putting something in the bank just about every day.”
Silas also said he did not anticipate running the speedway himself.
Rockingham hosted races on what is now the NASCAR Sprint Cup Series from 1965 to 2004. It has laid silent since a Camping World Truck Series event in 2013.