The New York Racing Association is under scrutiny by Gov. Andrew Cuomo like it was when his father, Mario Cuomo, was New York governor 20 years ago.
Six months into the year, a state-ordered review of the New York Racing Association's 2009 budget has still not received approval from a government oversight panel.
The rejuvenated New York Racing Association has big plans for its new 25-year franchise, but president and chief executive officer Charles Hayward said Dec. 9 the organization has to plan wisely should revenue sources dry up.
- By Tom Precious
The New York Racing Association is expected to emerge from Chapter bankruptcy and make official its 25-year franchise extension Sept. 12.
The New York Racing Association has been granted another temporary extension to continue operating during most of the Saratoga meet while it negotiates a final deal with the state for a 25-year franchise.
The outspoken leader of Capital Play, one of the entities vying for the big Aqueduct video lottery casino deal, is stepping down.
New York Gov. David Paterson sent mixed signals about reopening the deal giving the New York Racing Association a 25-year franchise extension to operate Aqueduct, Belmont, and Saratoga racetracks.
With the March 12 announcement of the resignation of New York Gov. Eliot Spitzer effective March 17, officials at the New York Racing Association said they don't anticipate his resignation would affect recent legislation that grants NYRA a new franchise. It could, however, impact other aspects of the franchise moving forward.
The New York Racing Association, which has had to delay its emergence from Chapter 11 bankruptcy protection, was given another extension by the state to continue racing at its tracks.
Officials cautioned that a delay in the New York Racing Association emerging from Chapter 11 bankruptcy protection is not a sign of a larger problem for the deal giving NYRA a new 25-year franchise extension.
Relief, tempered with caution about the future, was the word among some of New York's owners and breeders the day after it was announced that the New York Racing Association struck a deal with the state to operate racing at Aqueduct, Belmont Park, and Saratoga for the next 25 years.
While unveiling what he called the framework of a Thoroughbred franchise agreement, Senate Majority Leader Joseph Bruno blasted the New York Racing Association Feb. 7 for attempting to scare its workers and horsemen by threatening a shutdown Feb. 14.
A tentative deal is within reach to give the New York Racing Association a 25-year franchise to run Aqueduct, Belmont Park, and Saratoga, legislative sources said Feb. 6, the same day NYRA indicated live racing at Aqueduct could end Feb. 14.
Charles Wait, president of the Adirondack Trust Company in Saratoga Springs, N.Y., has resigned from his position on the New York Racing Association's board of trustees, citing his dissatisfaction with the position of Senate Majority Leader Joseph Bruno as the main reason for his decision.
With another deadline looming that could shut down racing at Aqueduct Feb. 14, rumors are circulating among horsemen that the New York Racing Association might not be willing to accept another temporary extension to keep racing going.
Negotiators in New York have agreed to another temporary extension to keep racing operating while talks continue on a longer-term franchise deal to operate Aqueduct, Belmont Park, and Saratoga, officials said Jan. 21.
The New York Thoroughbred Horsemen's Association released a statement Jan. 10 urging the state to address issues of importance to the 6,000 members of its group as negotiations continue on the long-term extension of the New York Racing Association franchise.
A group of New York jockeys is asking all parties in the ongoing negotiations for the New York racing franchise to come up with creative solutions to the problems facing the industry.
The temporary extension given to the New York Racing Association to operate Aqueduct has allowed government officials to boost the rhetorical wars against each other over the failure to devise a long-term franchise deal.
Racing will continue to be run at Aqueduct on New Year's Day under an agreement reached Dec. 31, but government negotiators failed to resolve the permanent Thoroughbred franchise issue in New York.
Though state racing regulators failed to approve a temporary license for the New York Racing Association to continue racing in January while talks about a permanent franchise deal continue, NYRA struck a deal with the state to continue operating Aqueduct through Jan. 23.
With talks going down to the wire, the New York Racing Association has reached an agreement with a state government oversight panel to at least continue running racing on a brief, temporary basis.
The new head of a state government panel that will oversee Thoroughbred racing in New York Jan. 1, 2008, said he could not guarantee that horses will be running at Aqueduct in two weeks.
A state government panel in charge of overseeing the New York Racing Association's finances--and the racing franchise as of Jan. 1, 2008--has a new chairman at a critical moment in the franchise negotiations.
A state government panel Dec. 17 approved letting the New York Racing Association continue running racing on a temporary basis until officials can agree on a new franchise-holder for Aqueduct, Belmont Park, and Saratoga.
The New York Racing Association can agree to new performance benchmarks for its operations as part of a franchise extension deal, but state officials must be more flexible to take into account future changes in the racing industry that could affect those new standards, according to the president of NYRA.
With closed-door talks failing to produce a deal on a new Thoroughbred franchise in New York, state officials have begun discussing getting the framework of a deal in place before a Dec. 31 deadline with passage of an agreement by the legislature in early January.
A federal bankruptcy court judge has paved the way for the New York Racing Association to emerge from Chapter 11 protection pending the outcome of a vote by creditors.
Aqueduct's winterized inner track opens Nov. 28, but not without trepidation from horsemen concerning the future of New York Thoroughbred racing.
The New York Racing Association is proposing to keep 17.5 acres of land adjacent to Aqueduct after it gives up it land claims to the state of New York, according to amendments filed to its Chapter 11 bankruptcy reorganization.
With a franchise expiration date of Dec. 31 fast approaching, it still remains very unclear who will be in control of Aqueduct, Belmont Park, and Saratoga in 2008 and beyond.
The top Republican in the New York legislature, after months of pessimistic offerings, believes a deal on the state's Thoroughbred franchise could be struck before Thanksgiving if "productive" talks are successful.
The New York Racing Association can add the Internal Revenue Service to its list of obstacles, as the federal agency wants NYRA to pay it $1.6 billion to settle past tax bills.
The New York Racing Association has filed a Chapter 11 plan in which it plans to surrender a claim of ownership to Thoroughbred tracks in exchange for the right to run the facilities for the next 30 years.
A new state corporation would be created to select new operators of New York's three-track Thoroughbred racing franchise under a plan by the Republican-led state Senate.
Seven entities have expressed interest in running a future video lottery terminal casino at Aqueduct, including several Indian-owned gambling companies, the Spitzer administration said Oct. 15.
A consortium of major horse industry companies vying for the Thoroughbred franchise in new York began falling apart Oct. 10, as Magna Entertainment and Churchill Downs announced their withdrawal from Empire Racing Associates.
- By Tom Precious
A consortium of major horse industry companies vying for the Thoroughbred franchise in New York began falling apart Oct. 10, as Magna Entertainment Corp., Churchill Downs Inc., and Delaware North announced their withdrawal from Empire Racing Associates.
People who live near Belmont Park got a chance to voice their opinions about the franchise to operate Thoroughbred racing at three tracks in New York.
Issues related to Belmont Park and the surrounding community will be the focus of the next New York Senate hearing on the franchise to operate the three-track Thoroughbred racing franchise.
The Spitzer administration has defended its recommendation of the New York Racing Association to run the state's Thoroughbred racing franchise.
The New York Senate Standing Committee on Racing, Gaming, and Wagering will hold the first of three public hearings on the future of the Thoroughbred racing franchise in the state Sept. 27.
With the deadline ticking before New York's Thoroughbred racing franchise expires, the state Senate has announced three public hearings to consider the future of the industry in New York.
New York's top Republican lawmaker said a plan by Gov. Eliot Spitzer to give another exclusive racing franchise to the New York Racing Association will not be approved by the legislature in its current form.
The franchise to operate Aqueduct, Belmont Park, and Saratoga will be front and center Sept. 12 during a meeting of the New York Senate Committee on Racing, Gaming, and Wagering.
New York Gov. Eliot Spitzer has formally recommended the New York Racing Association continue to operate Aqueduct, Belmont Park, and Saratoga racetracks while a separate operator for future casino developments at Aqueduct and possibly Belmont would be tapped down the road.
Saratoga wrapped up a strong 36-day meet Sept. 3 with solid gains in total handle, on-track handle, and attendance, and even set a record along the way.
The New York Senate Committee on Racing, Gaming, and Wagering will hold a meeting Sept. 12 to review Gov. Eliot Spitzer's anticipated recommendation regarding the franchise to operate Aqueduct, Belmont Park, and Saratoga.
In an Aug. 25 news conference at Saratoga Race Course, New York Gov. Eliot Spitzer said he may not meet the Sept. 4 deadline to make a recommendation as to which organization should receive the franchise to run racing at the Aqueduct, Belmont, and Saratoga racetracks.
In an Aug. 23 presentation at the Saratoga Hotel and Conference Center in Saratoga Springs, N.Y., Capital Play CEO Karl O'Farrell called Saratoga Race Course the "crown jewel of New York racing" and pledged his company's commitment to maintaining the historical significance of the track should Capital Play gain the governor's recommendation for the 20-year franchise to operate Belmont, Aqueduct, and Saratoga race courses.
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