Rockingham Speedway is off the auction block and under new ownership.

According to a report by the Richmond County Daily Journal, Billy Silas is the new owner of Rockingham Raceway Park, LLC.

James Hash -- a Raleigh attorney that represents BK Rock Holdings, which is managed by Silas -- placed a $3 million credit bid during a public auction on May 5, according to the Daily Journal report.

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An upset bid of $3.15 million had to be placed by May 15 in order for another 10-day period to go into effect for other bids.

Silas has yet to release plans for "The Rock," which still leaves the North Carolina track's future hanging in the balance.