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#1
05-18-2010, 02:55 PM
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Paterson to push for $17M loan for NYRA
By Matt Hegarty New York Gov. David Paterson said on Tuesday that his office would push for passage of legislation that would loan the New York Racing Association $17 million to address the association's financial difficulties. Paterson made the comment during a press conference on Tuesday after being asked if NYRA would run out of money prior to the opening of its meet at Saratoga Race Course in Saratoga Springs on July 24. "That's not going to happen," Paterson said. "We have a plan to loan NYRA, in the short term, money to get through Saratoga and we're working on a long-term plan to help beyond that." NYRA officials did not immediately return phone calls on Tuesday afternoon, but on Monday, Charles Hayward, the president of the association, said that he was scheduled to meet with officials in Paterson's office on proposals for the loan. During the press conference, Paterson said he expected the legislature to approve a $17 million loan to the association, but he did not provide specifics on how the loan would be structured. NYRA has been seeking that amount under previous legislative efforts that have fallen short, in part because of legal complications that restrict how the state can loan money. 
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#2
05-18-2010, 03:01 PM
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monmouth will be crazy..if this does happen
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#3
05-20-2010, 04:33 PM
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I have been wondering why the NY Post has not been more accurate with the NYRA situation considering they have Ed Fountaine on staff. After reading this, it appears that if Fountaine has spoken to the editors and/or reporters it has fallen on deaf ears. Here is Fountaine's take in todays NY Post:
http://www.nypost.com/p/sports/horse...mlliEOAIrUsF8H
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#4
05-20-2010, 05:58 PM
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Quote:
__________________
You have a million dollar set of legs and a five cent fart for a brain.-Herb Brooks
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#5
05-21-2010, 12:11 PM
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#6
05-21-2010, 12:27 PM
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Quote:
Is this news? Since there's probably very little chance that the tracks or OTB will close, why must we be subjected to all this posturing? It really can't be this hard to run a track and show a profit. Then again, with all this BS, there's apparently a need to convey that it is. We get it: not only do we get to play the horses but we also get to feel xtra special since the state pols are so involved in our sport.  Why are there no 'special interest' groups whose sole function is to expose 'crooked' pols? Not like the resources aren't there. Now, THIS is something that would be very easy in NY (and elsewhere). As soon as they '**** up', get them the **** out of there. Maybe something might get done that way.
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#7
05-21-2010, 12:35 PM
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As a result of the 2008 franchise process, NYRA is now a not-for-profit corporation instead of a quasi-state entity. Knowing that in Albany there will inevitably be some price to pay (i.e., lower long-term OTB payments to the racing industry) for the "loan" that NYRA is now seeking, why is NYRA even dealing with the legislature for these funds?
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#8
05-21-2010, 02:55 PM
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Quote:
__________________
All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. ~ Joseph Conrad A long habit of not thinking a thing wrong, gives it a superficial appearance of being right. ~ Thomas Paine Don't let anyone tell you that your dreams can't come true. They are only afraid that theirs won't and yours will. ~ Robert Evans The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. ~ George Orwell, 1984.
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