NYRA Deal Passes NY Legislature

[Kasept]

Newsday:
http://www.newsday.com/news/local/wi...,1620161.story

ALBANY, N.Y. - State officials say the New York Racing Association will continue to operate the Aqueduct, Belmont and Saratoga race tracks for another 25 years under a deal struck among political leaders in New York.

NYRA's board still has to approve the deal, which was confirmed by two state officials who spoke on condition of anonymity because the agreement hasn't been officially announced.

Under the tentative agreement, NYRA would get $105 million from the state to get out of bankruptcy and would agree to end its claim on the race track properties. NYRA has held the franchise since 1955.




Blood-Horse:
http://news.bloodhorse.com/viewstory.asp?id=43621

The New York Racing Association, in control of Thoroughbred racing in the state since 1955, will continue to run racing under a deal that came together Feb. 12 at the state Capitol in Albany, government and industry sources say.

The deal calls for NYRA to end its ownership land claims for Aqueduct, Belmont and Saratoga racetracks and, in return, get another exclusive franchise to continue running racing. A contentious issue over the governance of NYRA and who controls appointments to the NYRA board has been worked out, sources say.

State officials either were unavailable or declined immediate comment.

NYRA chairman Steven Duncker declined comment when asked about the deal as he emerged from a closed-door meeting at the Capitol with Assembly Speaker Sheldon Silver and as he and other top NYRA officials, including president Charles Hayward, headed down the hall to a meeting with Senate Majority Leader Joseph Bruno.

[zippyneedsawin]

Nothing like playing a game of chicken..

[asudevil]

Originally Posted by Kasept

Newsday:
http://www.newsday.com/news/local/wi...,1620161.story

ALBANY, N.Y. - State officials say the New York Racing Association will continue to operate the Aqueduct, Belmont and Saratoga race tracks for another 25 years under a deal struck among political leaders in New York.

NYRA's board still has to approve the deal, which was confirmed by two state officials who spoke on condition of anonymity because the agreement hasn't been officially announced.

Under the tentative agreement, NYRA would get $105 million from the state to get out of bankruptcy and would agree to end its claim on the race track properties. NYRA has held the franchise since 1955.




Blood-Horse:
http://news.bloodhorse.com/viewstory.asp?id=43621

The New York Racing Association, in control of Thoroughbred racing in the state since 1955, will continue to run racing under a deal that came together Feb. 12 at the state Capitol in Albany, government and industry sources say.

The deal calls for NYRA to end its ownership land claims for Aqueduct, Belmont and Saratoga racetracks and, in return, get another exclusive franchise to continue running racing. A contentious issue over the governance of NYRA and who controls appointments to the NYRA board has been worked out, sources say.

State officials either were unavailable or declined immediate comment.

NYRA chairman Steven Duncker declined comment when asked about the deal as he emerged from a closed-door meeting at the Capitol with Assembly Speaker Sheldon Silver and as he and other top NYRA officials, including president Charles Hayward, headed down the hall to a meeting with Senate Majority Leader Joseph Bruno.

Glad the Tsuris is over.......

[pgiaco]

If only......but haven't we heard this before?

[Riot]

I'll believe it when I see it, but certainly hope it's true.

NYRA's board still has to approve the deal, which was confirmed by two state officials who spoke on condition of anonymity because the agreement hasn't been officially announced.

Sounds like more of Bruno's aids just trying to deflect attention from Bruno as a big part of the problem. Stuff like this gets "leaked" only on purpose and with Bruno's full approval. It's Bruno trying to make NYRA the "guilty party" if racing stops.

[Kasept]

Tom Precious, Blood-Horse:

"NYRA chairman Steven Duncker declined comment when asked about the deal as he emerged from a closed-door meeting at the Capitol with Assembly Speaker Sheldon Silver and as he and other top NYRA officials, including president Charles Hayward, headed down the hall to a meeting with Senate Majority Leader Joseph Bruno.

After his meeting with Bruno, a smiling Duncker said the details of what negotiators have been working on will be presented possibly today to other NYRA board members."

Wouldn't be smiling or presenting to Trustees if the package wasn't what NYRA 'could live with'..

[Riot]

Smiling is an excellent thing!

[pmacdaddy]

Sounds like good news! Glad I decided to wait to the last minute drain my NYRA account...

I will do my part to fix OTB situation by putting as little as possible through thier windows.

[Kasept]

DRF's Matt Hegarty, who was more guarded last week, with a cautiously optimistic interpretation of today's events:

http://www.drf.com/news/article/92245.html

[ELA]

Of course all we can do is hope for the best. One question that comes to mind is -- if a deal is reached, but not approved by the legislature, will NYRA agree and move forward? Under the right circumstances, I hope so; if all the details and specifics are agreed to, more than just an agreement in spirit.

Eric

[Alan07]

They won't be racing today at the ''Big A''

[blackthroatedwind]

Originally Posted by Alan07

They won't be racing today at the ''Big A''

Because it's a snow and rainfest. NYC was a mess last night.

[sumitas]

I won't trust any agreement until it's signed, sealed, and delivered.

[Kasept]

Details emerging.. Announcements due later today..


Tom Precious, B-H:
http://www.bloodhorse.com/viewstory_plain.asp?id=43626

New York state legislators are expected to approve a bill agreed to the morning of Wednesday, Feb. 13, giving the New York Racing Association a 25-year extension of its franchise to run Aqueduct, Belmont and Saratoga racetracks.

NYRA and state officials were expected to publicly unveil the deal later Wednesday, when it was also to be voted upon.

[philcski]

Originally Posted by Alan07

They won't be racing today at the ''Big A''

this at least is weather related... it's MISERABLE here today

[sumitas]

I would guess that if there was a properly installed all weather surface the horse would be happily running today.

[Kasept]

NYRA, legislature reach agreement
By MATT HEGARTY

http://www.drf.com/news/article/92248.html

The New York Racing Association and state legislative leaders have reached an agreement on a long-term extension to the association's franchise, averting a possible shutdown of racing at Aqueduct, according to officials involved in the negotiation.

The agreement, which would extend NYRA's franchise for 25 years in exchange for the state taking undisputed title to NYRA's three racetracks, was reached after two days of intense negotiations in Albany. A 190-page bill outlining the terms of the agreement was scheduled to go to the floor of the state legislature on Wednesday.

The agreement will bring to a close a tumultuous three-year battle over the fate of the franchise, which includes the right to operate Aqueduct, Belmont, Saratoga, and a yet-to-be-built casino at Aqueduct.

COMPLETE NY SENATE BILL:
http://assembly.state.ny.us/leg/?bn=A09998&sh=t

[blackthroatedwind]

It's nice to see that Bruno was able to secure a spot on NYRA's board for an officer of the NY State OTB Corporation......a group that acts, despite their legislated raison d'etre, as a competitor of NYRA. How convenient and fair for them to be privy to the contracts that NYRA negotiates.

[pgiaco]

Did you want Bruno to give up without leaving a little slime trail?

[sumitas]

According to bloodhorse.com , There will be some VLT money shared with harness tracks that have casinos. I know Tioga and Vernon Downs need help.