Lee Roy
22nd June 2007, 11:05
http://www.yourdailyjournal.com/articles/2007/06/21/news/top_story/top.txt
The North Carolina Motor Speedway will be put on the auction block.
File Photo Competitors race at the North Carolina Motor Speedway in March during the North Carolina Division of Sports Car Club of America’s March Memories event. Speedway Motorsports Inc. has announced it plans to sell the track via an auction.
Speedway Motorsports Inc. notified Rockingham Mayor Gene McLaurin by letter of the impending sale.
“I wanted to make you aware ahead of time that our company has made the decision to sell North Carolina Motor Speedway via an auction,” wrote H.A. “Humpy” Wheeler, president and general manager of Lowe's Motor Speedway, in a June 13 letter.
The track also known as “The Rock” was built in 1965 and is owned by Speedway Motorsports Inc.
Unprofitable
Lowe's Motor Speedway Senior Vice President and SMI spokesman Jerry Gappens said Wednesday Wheeler sent the letter to the mayor, because he has remained in contact with city and county economic development officials about exploring opportunities for the track.
“We regret we have to make this decision but we really have no other choice,” Wheeler wrote in his letter. “We have been unable to sell it and track rentals are simply not enough to keep the facility running.”
Since SMI bought the track in 2004, Rockingham's final race date was moved to the Texas Motor Speedway also owned by SMI. The 1.017-mile oval has since been used by NASCAR drivers for testing and for a variety of special events and movies.
No date has been set for the auction. “We've had some meetings with an auction company,” Gappens said. A fall auction date is anticipated.
McLaurin said Wednesday the community has been concerned about the track's fate since the loss of the Nextel race. “It's a situation where we may have to wait and see,” he said.
“We'll follow the situation closely and hope it's not someone who wants to dismantle the facility,” McLaurin said. He hopes an entrepreneur with a vision for it buys the facility.
Richmond County Development Director Rick Sago said, “I really don't know if this is a positive or a negative.”
Sago, who has been working with the Bring Back the Rock committee aimed at promoting racing at the track, said he believes there could be some type of race here.
The future of the facility hinges on who buys it, he said.
After researching potential uses for the facility, Gappens said “nothing feasible” was available. “NASCAR has no interest going there,” he said.
Recent rumors about an Indy Racing League event at the track are just rumors. “No one has contacted us about using it,” Gappens said.
Wheeler also emphasized other races had been investigated.
“As I have stated in the past, we think it is unpractical for us to attempt other types of races there such as Busch or Craftsman Trucks,” Wheeler wrote. “We believe they too, as stand alone events, will be significantly unprofitable.”
Other options
In preparation for the sale, Gappens said they'll be putting together information about the property and marketing material for the auction. Gappens said the entire property will be auction. “It's a turnkey proposition.”
No date has been set and all potential uses are speculative.
There are options for the property.
Motorsports events at the track are difficult, Gappens said because it's difficult to run races that could be profitable.
“There may be something out there that we don't know about,” he said. “It's a nice piece of property.”
Gappens said there has been a lot of work behind the scenes to find a use for the facility.
Manufacturing is an option, but Gappens said there has not been much success. “We've spoke to different manufacturers,” he said citing an auto test track as a proposed use for the facility.
Sago said the property is 247 acres and is in the highway-commercial zoning district. The property has water, but no sewer service. Sago said it has a septic tank system.
Gappens said the track has been upgraded and maintained over the years.
“It's there and ready to be utilized,” he said.
McLaurin commended SMI for their maintenance of the track.
“One thing is for certain,” he said. “This community is proud of its relationship with NASCAR and racing.”
McLaurin said he hopes the community can continue its relationship with the new owner to make Rockingham a great destination for racing.
Success at the track can happen. Gappens cited the success of Rockingham Dragway just across the highway from the track.
“Steve's done a great job of making it active,” he said of the events at the dragway.
The Rock
Many details are still undecided, like what will happen to the rock bearing the names of past winners. Even though the track hasn't hosted a race since 2004, people still stop by the rock to take a photo.
Gappens said they haven't gotten into that kind of detail yet. It may be donated to the community or may go to the NASCAR Hall of Fame, he said.
The North Carolina Motor Speedway will be put on the auction block.
File Photo Competitors race at the North Carolina Motor Speedway in March during the North Carolina Division of Sports Car Club of America’s March Memories event. Speedway Motorsports Inc. has announced it plans to sell the track via an auction.
Speedway Motorsports Inc. notified Rockingham Mayor Gene McLaurin by letter of the impending sale.
“I wanted to make you aware ahead of time that our company has made the decision to sell North Carolina Motor Speedway via an auction,” wrote H.A. “Humpy” Wheeler, president and general manager of Lowe's Motor Speedway, in a June 13 letter.
The track also known as “The Rock” was built in 1965 and is owned by Speedway Motorsports Inc.
Unprofitable
Lowe's Motor Speedway Senior Vice President and SMI spokesman Jerry Gappens said Wednesday Wheeler sent the letter to the mayor, because he has remained in contact with city and county economic development officials about exploring opportunities for the track.
“We regret we have to make this decision but we really have no other choice,” Wheeler wrote in his letter. “We have been unable to sell it and track rentals are simply not enough to keep the facility running.”
Since SMI bought the track in 2004, Rockingham's final race date was moved to the Texas Motor Speedway also owned by SMI. The 1.017-mile oval has since been used by NASCAR drivers for testing and for a variety of special events and movies.
No date has been set for the auction. “We've had some meetings with an auction company,” Gappens said. A fall auction date is anticipated.
McLaurin said Wednesday the community has been concerned about the track's fate since the loss of the Nextel race. “It's a situation where we may have to wait and see,” he said.
“We'll follow the situation closely and hope it's not someone who wants to dismantle the facility,” McLaurin said. He hopes an entrepreneur with a vision for it buys the facility.
Richmond County Development Director Rick Sago said, “I really don't know if this is a positive or a negative.”
Sago, who has been working with the Bring Back the Rock committee aimed at promoting racing at the track, said he believes there could be some type of race here.
The future of the facility hinges on who buys it, he said.
After researching potential uses for the facility, Gappens said “nothing feasible” was available. “NASCAR has no interest going there,” he said.
Recent rumors about an Indy Racing League event at the track are just rumors. “No one has contacted us about using it,” Gappens said.
Wheeler also emphasized other races had been investigated.
“As I have stated in the past, we think it is unpractical for us to attempt other types of races there such as Busch or Craftsman Trucks,” Wheeler wrote. “We believe they too, as stand alone events, will be significantly unprofitable.”
Other options
In preparation for the sale, Gappens said they'll be putting together information about the property and marketing material for the auction. Gappens said the entire property will be auction. “It's a turnkey proposition.”
No date has been set and all potential uses are speculative.
There are options for the property.
Motorsports events at the track are difficult, Gappens said because it's difficult to run races that could be profitable.
“There may be something out there that we don't know about,” he said. “It's a nice piece of property.”
Gappens said there has been a lot of work behind the scenes to find a use for the facility.
Manufacturing is an option, but Gappens said there has not been much success. “We've spoke to different manufacturers,” he said citing an auto test track as a proposed use for the facility.
Sago said the property is 247 acres and is in the highway-commercial zoning district. The property has water, but no sewer service. Sago said it has a septic tank system.
Gappens said the track has been upgraded and maintained over the years.
“It's there and ready to be utilized,” he said.
McLaurin commended SMI for their maintenance of the track.
“One thing is for certain,” he said. “This community is proud of its relationship with NASCAR and racing.”
McLaurin said he hopes the community can continue its relationship with the new owner to make Rockingham a great destination for racing.
Success at the track can happen. Gappens cited the success of Rockingham Dragway just across the highway from the track.
“Steve's done a great job of making it active,” he said of the events at the dragway.
The Rock
Many details are still undecided, like what will happen to the rock bearing the names of past winners. Even though the track hasn't hosted a race since 2004, people still stop by the rock to take a photo.
Gappens said they haven't gotten into that kind of detail yet. It may be donated to the community or may go to the NASCAR Hall of Fame, he said.