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#16
02-13-2008, 11:18 AM
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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
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