NYRA Franchise: "Backwards, not forwards"

[blackthroatedwind]

Originally Posted by Norfolk

I am not a resident of NY but I do own a home in Saratoga and if that information is correct maybe I should change my residency to Saratoga so I can vote against him in the fall.

Haven't the good folks of Saratoga suffered enough?

[Norfolk]

Originally Posted by Cardus

Pat, I doubt we'd be at this impasse if Saratoga's meet were imminent, and I suspect that we wouldn't be at this point if we were in the midst of Belmont's spring meet.

I don't say this lightly, for a good friend of mine is a NY owner -- and a thoughtful DT contributor -- but at this point, it's best for the long term that racing is shut down now. Of course, if ALL of the salient points could be addressed in the next two days -- it seems impossible -- then I'd think differently. Half-baked plans serve no long term good. And from what has been made public, I had no sense that everything was being discussed sufficiently.

I understood the first extension, but after NYRA was left, essentially, dead on the vine following that period, I think we knew we'd wind up with this situation.

It is getting to a point that some drastic action has to be taken. It is obvious that if another extension is given we will be back at this same point in a couple of weeks. The NYRA employees have been wondering for over a year if their jobs are secure. Unfortunately most legislators only act when pressure is put on them. So I guess it is time to put pressure on them.
If they close on Thursday I will be one of the first to be affected, I have a horse in the fifth race that day.

[Alan07]

NYRA has submitted a reorganization plan to the U.S. Bankruptcy Court for the Southern District of New York, but that plan’s financial details are based on a long-term extension. After May 2, 2008, if NYRA is unable to meet those obligations, by law another entity could come in, present a reorganization plan, and gain control of the franchise.

[blackthroatedwind]

Originally Posted by Norfolk

I have a horse in the fifth race that day.

You're being too generous.

[blackthroatedwind]

Originally Posted by Alan07

After May 2, 2008, if NYRA is unable to meet those obligations, by law another entity could come in, present a reorganization plan, and gain control of the franchise.

Not if the land claim is tied up in court.

A land claim, by the way, that I would gladly lay 2-1 NYRA will win.

[Norfolk]

Originally Posted by blackthroatedwind

Not if the land claim is tied up in court.

A land claim, by the way, that I would gladly lay 2-1 NYRA will win.

I agree with you on this post not the previous
Don't make fun of Tuffy he got a second last time out. Maybe the "new" NYRA will run a $1,000 claimer and he could win

[blackthroatedwind]

Originally Posted by Norfolk

I agree with you on this post not the previous
Don't make fun of Tuffy he got a second last time out. Maybe the "new" NYRA will run a $1,000 claimer and he could win

I bet him the last time. You know I rarely like closing sprinters when they stretch out.

[pmacdaddy]

Originally Posted by Cardus

Pat, I doubt we'd be at this impasse if Saratoga's meet were imminent, and I suspect that we wouldn't be at this point if we were in the midst of Belmont's spring meet.

I don't say this lightly, for a good friend of mine is a NY owner -- and a thoughtful DT contributor -- but at this point, it's best for the long term that racing is shut down now. Of course, if ALL of the salient points could be addressed in the next two days -- it seems impossible -- then I'd think differently. Half-baked plans serve no long term good. And from what has been made public, I had no sense that everything was being discussed sufficiently.

I understood the first extension, but after NYRA was left, essentially, dead on the vine following that period, I think we knew we'd wind up with this situation.

Fair enough, but not as easy as saying "go" once you layoff a big number of folks and have horsemen forced to go elsewhere.

This ends up in court, have to say all bets are off as far as timing. Saratoga or no Saratoga.

[Cannon Shell]

The real shame of this is that even if the NYRA deal gets done, no one of political importance in NY has said one sane or reasonable thing about the OTB situation. Even if NYRA gets a great deal, the OTB's still are a huge drag on racing in the state. That they would carry on about adding political appointees onto NYRA's board with the hundreds of political jobs in the OTB machine is a disgrace.

[Storm Cadet]

http://www.nytimes.com/2007/10/19/ny...l?ref=nyregion

NYC Mayor Bloomberg also wants to cease and close NYCOTB!

[Cannon Shell]

Originally Posted by Storm Cadet

http://www.nytimes.com/2007/10/19/ny...l?ref=nyregion

NYC Mayor Bloomberg also wants to cease and close NYCOTB!

Which would be an improvement. Of course what he really wants a handout.

[ELA]

The NYRA/OTB issue is not on the table right now. Unfortunately, it wasn't on the table at any point in time, other than every single bidder agreeing that it needed to be addressed. It wasn't a priority and the focus was obviously elsewhere.

That being said, IMO, racing will probably shut down for a few days. Bruno will back down (if those are the right words), but will, without question, get to save face. More people believe he is the problem than believe he is the solution and "in it for the horsemen" so to speak. Other than Rick Violette, I don't know who else believes that.

One factor I think people have often discounted or neglected is the "who actually runs the country club" and where a great deal of power still resides. I guess we will soon see.

Eric

[docicu3]

So does anyone have any estimate on how much money the state will lose per day that NY racing remains dark this winter now that it appears an immediate resolution seems unlikely before the deadline Weds.

[Suffolk Shippers]

Guess I have to start playing Sam Houston on the weekends now and not AQU

[Alan07]

https://www.nyra.com/aqueduct/storie...dsNotice.shtml

[SniperSB23]

Originally Posted by docicu3

So does anyone have any estimate on how much money the state will lose per day that NY racing remains dark this winter now that it appears an immediate resolution seems unlikely before the deadline Weds.

During the Aqueduct meet? They might make money.

[freddymo]

Originally Posted by docicu3

So does anyone have any estimate on how much money the state will lose per day that NY racing remains dark this winter now that it appears an immediate resolution seems unlikely before the deadline Weds.

That's funny when you figure in the losses which have amassed (not all NYRA's fault) that the state will ultimately subsidize its cheaper and for that matter better business to sell big A, pay the debt, and build Ozone Park into the housing/shopping mecca it should always have been. lol

Wouldn't it be more logically to turn Belmont into a superior facilty that could run 10 months a year?


Sell Aqueduct and use all the money to remodel Belmont into the very finest race track in the world. Run it like a real business. Re do the entire back stretch, level the huge grandstands, remake the training track to something synthetic and just have the very finest 10 month facilty on the planet.. BTW F the slots

[Kasept]

Originally Posted by freddymo

Sell Aqueduct and use all the money to remodel Belmont into the very finest race track in the world. Run it like a real business. Re do the entire back stretch, level the huge grandstands, remake the training track to something synthetic and just have the very finest 10 month facilty on the planet.. BTW F the slots

If you read the John Nerud piece, you'll see that he laid that plan out a while ago. Except that they need to build the winterized Clubhouse/Grandstand on the opposite side of the track, and replace the inner turf course with a winter synthetic strip. Race at Aqueduct until the new Belmont is complete, and pay for the renovations with proceeds from a subsequent sale of Aqueduct.

[blackthroatedwind]

NYRA was amenable to a great deal of what people propose.....but not the State. It's very hard to guess about what went on, and then point fingers, without knowing the real story.

[sumitas]

Originally Posted by blackthroatedwind

Not if the land claim is tied up in court.

A land claim, by the way, that I would gladly lay 2-1 NYRA will win.

I hope Bruno takes that bet.

The NYRA owns the land and they should, possibly, sue the state for interfering in their ability to do business.