Court records show the owners of Rockingham Speedway have agreed to sell or auction off the track to help avoid foreclosure for default on a $4.2 million loan used to buy the property.

The Daily Journal of Richmond County reports a judge signed a consent order between the owners and Farmers & Merchants Bank, which holds the loan.

Owners Andy Hillenburg of Concord and Bill R. Silas of Stuart, Florida, have until the first of 2015 to sign a sale or auction agreement. A sale or auction must take place by March 15.

Rockingham Speedway opened in 1965, but hasn't hosted a NASCAR Sprint Cup series race since 2004. A race scheduled for 2013 was canceled, and the track was left off the 2014 NASCAR truck series schedule.