A state oversight panel is recommending the New York Racing Association boost takeout, defer dues to the National Thoroughbred Racing Association, and get a cash advance from its casino partner in order to cope with NYRA's worsening fiscal picture.
The New York Racing Association, which hopes to get the state's attention on its current fiscal plight, did itself no favors by the way it hired a bankruptcy law firm to represent it in the event of insolvency if the reaction of the head of a new oversight panel is any indication.
A state oversight panel said the New York Racing Association may have some fiscal tools in its arsenal to avoid insolvency in November.
Most Popular Stories
- Hoppertunity Stays Up in Roughshod Rebel
- Featured Horse Profile: Close Hatches
- Onlyforyou Euthanized After Training Accident
- Let Faith Arise Puts Santa Margarita On Ice
- Close Hatches Proves Class in Azeri Stakes
- Golden Lad Pulls Away for Razorback Romp
- Arkansas Derby Preview Day Preview Blog
- Centre Court Scores Game Honey Fox Repeat
- Cairo Prince Leads Florida Derby Worktab
- Bath Time for Hoppertunity