Rockingham Dragway ownership to transition over 2 years

ROCKINGHAM – Rockingham Dragway owner Steve Earwood has reached an agreement with two businessmen, Al Gennarelli and Dan VanHorn, to allow them to observe the track’s operations for two years before selling them the track in October 2022.

Gennarelli and VanHorn have paid a 6-figure, non-refundable deposit towards the purchase of the venue. The total selling price for the Dragway is $1,850,000. The bulk of the purchase will be paid in October 2022 and the rest will be financed over the following 10 years, according to Earwood. Earwood will stay on as a consultant for two years after the new owners take over.

He stressed that it will be “business as usual” at the Dragway for now, and he is excited about the ideas the future owners have put forward, the details of which have not yet been made public.

“If I didn’t feel confident that they would be a success I wouldn’t have gone into business with them,” Earwood said in an interview Tuesday.

Negotiations had been going on for about a year, Earwood said. VanHorn, who has held his Modern Street HEMI Shootout event at the Dragway for about three years, asked Earwood if he would be interested in selling the venue in April 2019, according to Earwood.

“I wasn’t really (interested in selling) at the time but we were chatting and I realized he was serious,” Earwood said. “At some point I’ve got to look at stepping away, I can’t do this forever.”

With 28 years as owner of the Dragway and 50 years working in the industry, Earwood said, “That’s enough.”

“I made my ex-wife a wealthy woman,” he added, referring to his success over the years.

The Rockingham Dragway was built in 1968 and was one of the first dragstrips to feature amenities like permanent restrooms, concrete grandstands and corporate suites. Earwood purchased the facility from the L.G. Dewitt family in 1992.

“All of our personnel will stay in place,” Earwood said, “and I don’t see any major changes other than we are adding more non-traditional events to our calendar, which has been one of our trademarks. In the past, we’ve hosted the Smoke Out Festival, Metallica concerts and the more recent Epicenter concert and we’re looking right now for opportunities to bring similar non-racing events to Richmond County.”

VanHorn and Gennarelli will both compete at next week’s 29th annual Griffin Motors MOPARS at the Rock expo featuring the Modern Street HEMI Shootout series.

Gennarelli, who grew up in Pennsylvania but now lives in Gates, N.C., has operated Gennarelli Concrete and Construction for the last 22 years. In addition to pouring concrete, the company is involved in pre-engineered metal building sales, metal building erection and concrete pumping and recently added dump truck hauling to its services.

On the racetrack, Gennarelli’s Dodge Challenger was the first Modern Mopar to break the 8.00 second barrier using a Gen3 HEMI, posting a quarter mile best time of 7.85 seconds at more than 175 miles per hour, according to a press release. He also has driven the world’s fastest HEMI Jeep, stopping the quarter mile timers in 8.00 seconds.

“I’m looking forward to a new chapter in my racing career as a track co-owner with Dan VanHorn,” Gennarelli said in a statement, “and I’m excited to be able to apply my flair for business to my passion for racing.”

VanHorn, who lives with his wife Julie and children Dylan, David and Claire in Stafford, Va., comes from a military family and served in the U.S. Air Force as an air traffic controller. Originally from Ocala, Fla., VanHorn, like Gennarelli, is a lifelong MOPAR and HEMI fan. He has raced a Challenger in his own Modern Street HEMI Shootout series since he first conceived the idea for the competition 11 years ago.

“Now that my career as an Air Traffic Controller is winding down,” VanHorn said, “I am excited to be able to pursue drag racing at its highest level as a track owner, teaming with my fellow HEMI racer, Al Gennarelli.”

Over its 52-year history as a major player in professional drag racing, Rockingham Dragway hosted events sanctioned by three of the most prominent organizations in the sport: the National Hot Rod Association, the American Hot Rod Association and the International Hot Rod Association.

Among the professional drivers who have celebrated major victories at The Rock are Hall of Famers Don Garlits, John Force, Don Prudhomme, Raymond Beadle, Kenny Bernstein, Joe Amato, Don Schumacher, Connie Kalitta, Bob Glidden, Warren Johnson and Ronnie Sox as well as “TV Tommy” Ivo, Darrell Gwynn, Jeb Allen, Ed “the Ace” McCulloch, “Dyno Don” Nicholson and Lee Shepherd.

“We have had a lot of offers to sell the business over the years, but one of my concerns has always been what impact the sale would have on our racers, our manufacturers, our sponsors and our fans,” Earwood said. “I never felt confident that they would be taken care of until I started talking to Dan more than a year ago.

“Now, though, with Dan and Al taking over,” he continued, “I believe the track’s future is secure and that it will continue to serve as Richmond County’s principal entertainment venue and visitor destination.”