There will be no race for Huset's Speedway as owner Chuck Brennan looks for new ways to unload the Brandon racetrack.

Brennan spent recent weeks trying to organize and enlist racers in a high-risk, high-reward race in which the top prize was the track itself.

But with only three entrants registered, there wasn't enough teams signed up to justify the race, Brennan said.

"The interest was there, it was not only there from the drivers but it was over the top from the fans," Brennan said Monday. "It’s a lot of money."

The entry fee for the now-canceled race was $200,000 for teams, but Brennan needed at least 18 teams to move forward with the race, he said.

The track is now for sale for $7.45 million, according to a video on the track's website. That's $2 million less than Brennan originally listed the track for when he first decided to sell. If Huset's isn't sold, the facility will be decommissioned and its equipment, vehicles and other assets will be auctioned off.

The auction is set for 1 p.m. May 7 at Huset's and will include online options to bid.

Brennan, who owns Dollar Loan Center, has been trying to unload the track since South Dakota changed its payday loan laws, prompting him to move his operations out of the state.

Brennan invested millions in refurbishing the track and upgrading facilities after he bought the track and rebranded it as Badlands Motor Speedway. He's been unable to find a buyer willing to pay his asking price.

A number of efforts to find one have ended without a deal, including a recent attempt to negotiate terms with Steve Rubin, whose family used to own the track.

When the track went up for auction last year, no bidder was willing to make the $3.15 million opening bid.

This auction is different. It will only serve to unload other assets piecemeal if the track has to be decommissioned. But Brennan said he's confident there will be interest.

He is open to taking an offer until weeks before the May auction, but doesn't have a deadline.

"Somebody has to be able to put this deal together, and we're going to work as hard as we can to continue to do that," Brennan said.

Earlier:Huset's Speedway win-it-all race now has three racers bought in