Buyer Surfaces For Rockingham Speedway, Racings Future Remains Unclear There could be light at the end of the tunnel for embattled Rockingham Speedway, but there are still more questions than answers. WSOC-TV in Charlotte, NC, is reporting today that a veterans’ charity has confirmed plans to purchase the historic speedway and convert it into a Veterans’ Reintegration Center. WSOC’s Allison Latos quoted Help-Vets.Org Executive Director Craig Northacker as saying his organization is seeking financing for a projected $50 million project that would construct housing on site, along with educational and vocational components. Speedway owners Andy Hillenburg and Bill Silas have attempted to resurrect Rockingham for racing, but narrowly avoided financial receivership in late 2014. They purchased the speedway in 2007 for $4 million, but as of August 8, owed $4,532,796.23 to F&M Bank on a 244-acre site valued at approximately $2.5 million. A judge allowed them until Jan. 1 to either assemble a new financing plan or sell the property
Posted on: Tue, 20 Jan 2015 00:10:04 +0000
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