Two days after NASCAR announced Rockingham Speedway was on its 2026 O’Reilly Auto Parts and Craftsman Truck series schedules, a city official asked the North Carolina attorney general to investigate the $375,000 in public funds granted to the facility to pay an overdue bill.
Hamlet, North Carolina, City Manager John Terzui has accused Richmond County officials of violating four state statutes when they authorized the $375,000 to be paid to a SAFER barrier company that was preparing to put a lien on the historic speedway.
Terzui told WSOC-TV, a Charlotte, North Carolina, television station, that he believes the Richmond County board of commissioners failed to comply with economic development statutes and misused public funds. He also has alleged conflicts of interest and ethics violations, claiming the county board chairman “executed a contract prematurely … prior to Board review.”
On Thursday, Richmond County commissioners voted 4-3 to give a $375,000 grant payment to Rockingham Speedway to pay the SAFER barrier company. WSOC-TV reported that commissioners were told they could lose the races scheduled for Rockingham in 2026 if the bill wasn’t paid.
Commissioner Jamie Gathings said Chairman Rick Watkins called him about the debt. He was told the speedway’s owner said the debt needed to be paid to ensure the track would have races in April 2026. Several commissioners were concerned about providing taxpayer money to the speedway without an official meeting. Gathings said Watkins was ready to sign an agreement to provide the money, but commissioners called for a special meeting to discuss it.
Gathings said there was no public hearing and track owner Dan Lovenheim was unable to speak with board members. He said Track Enterprises President Bob Sargent, who has expressed an interest in purchasing the track, listened to the meeting via the phone. Lovenheim announced the track was for sale soon after the Xfinity and Truck series races were held there earlier this year.
WSOC-TV has a copy of the agreement signed by Watkins, Lovenheim, and the owner of Track Enterprises. The document was signed on Aug. 15 by the two company owners. Watkins signed the agreement five days before commissioners voted to approve the transaction. The document obligated Richmond County to pay $375,000 within five days of the agreement being signed to vendors with balances outstanding for services provided in conjunction with the two-day 2025 event.
The contract is an agreement between Rockingham Properties (Lovenheim) and Track Enterprises to negotiate the sale of the race track from between $6.1 million and $6.9 million.
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