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
- Desormeaux Taken Off Mounts at Del Mar
- American Pharoah Arrives at Monmouth
- Darley Closes Aiken Training Track Stable
- Grade II Winner Moulin de Mougin Retired
- O'Neill Sets Del Mar Record With Five Wins
- Belmont Runner-Up Frosted Back in Jim Dandy
- Monmouth Ups Haskell Purse to $1.75 Million
- London Tower Game in Eternal Search
- American Pharoah Has Final Work for Haskell
- Top West Coast Mares Ready for Clement Hirsch