A group of North Carolina investors completed the purchase of Rockingham Speedway on Thursday.
The Richmond County Daily Journal confirmed the sale and revealed Dan Lovenheim of nearby Raleigh, North Carolina, as the new majority owner of the 1.017-mile oval. Lovenheim did not reveal his plans for the speedway in an interview with the Journal but said they are “remarkably encompassing.”
Tax Administrator Vagas Jackson said the property is currently valued at $2,993,324, down from $6.85 million when it last went up for sale in November 2016. Jackson said the value decreased because of the combination of key parts of the original structure no longer being there, the track not being used and the wear and tear associated with that.
The Rock, as it’s called, opened in 1965 and hosted NASCAR Cup Series events until 2004. From 2008 to 2013, the track hosted a combination of Camping World Truck Series, ARCA and Late Model events but has not been used since then.
Ownership has since changed hands multiple times, with Billy Silas of BK Rock Holdings being the most recent owner.
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