Fred Smith conceded to Pat McCrory at Hedingham Country Club tonight.

In front of a crowd of more than 75 supporters, the Republican gubernatorial candidate thanked his family and everyone who was involved in his campaign and said he has no regrets.

"We've run a good race," he said. "We're proud of what we've done and we want to congratulate Pat McCrory. We're going to keep a smile on our face, and we're going to move forward.

"We don't regret anything we did in our race," he added. "We'd do it all over again."

Smith said his priority now is to help McCrory any way he can in the general election in November.

"That's the most important thing that we elect a Republican governor," he said. "I think the voters have chosen Pat to run and that's their choice. We've got to let Pat run the race the way he wants to run it."

He also quoted famed sportswriter Grantland Rice.

"As Grantland Rice said, sometimes it's not whether you win or lose, it's how you play the game," he said.

More than 80 Fred Smith supporters packed into Hedingham Country Club by 7:30 p.m. to support their candidate.

The Republican gubernatorial candidate provided White Swan barbecue, burgers, hot dogs, ribs and drinks for his guests.

Cheers erupted as the crowd watched the local news, which showed Smith with a convincing lead over Charlotte Mayor Pat McCrory around 8 p.m.

The mood throughout the party was hopeful.

"I'm feeling pretty good," said George Cooper, a community assistant manager from Clayton. "I think he's run a good campaign. He's got the word out."

The moood quickly changed by 8:20 p.m. as the first precincts began reporting McCrory with the lead, despite earlier projections. His lead grew sizable by 8:45 and the party continued to quiet down. 

Fred Smith will hold a party at his golf club.

The Republican gubernatorial candidate and invited guests will be at a cookout on Election Night at the pro shop at Hedingham Golf and Athletic Club in Raleigh.

Smith helped build the Hedingham subdivision.

For more information, call the Smith campaign at 919-231-2525. 

Fred Smith took over C.C. Mangum Co. in 2004.

According to the Republican gubernatorial candidate's autobiography, President Michael Mangum called Smith in December of 2003. The Mangum family and Smith had been business partners since the 1980s and had worked together on the Hedingham subdivision in east Raleigh.

Mangum told him the company was facing tough financial times. In the previous year, C.C. Mangum lost $2 million, and without Smith's help, it might have gone bankrupt.

In "A Little Extra Effort," Smith wrote that he should help the Mangum family because it had helped him earlier when the Hedingham ran into trouble, giving him more time to repay debt.

"I felt a moral obligation to the Mangum family," he wrote. "Yes, I had paid them back the money they had put into Hedingham. Still, how do you repay one who came to your aid in your time of need?"

More after the jump.

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