Quote:
Originally Posted by pointman
NYRA is different because they are a State entity. Unlike other businesses, I doubt NYRA can go just to a bank and take out a $17 million loan. And if they did, where in their budget will be the money to pay the interest?
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This is not true any more. Before 2008, they were a quasi-state agency. Now, they are a not-for-profit. I do not believe there is any legal impediment to NYRA getting a loan from a private institution (subject, possibly, to any oversight boards). As for how would they pay the interest, I'm sure there are expenses that could be cut (d-barn, off-season training facilities are two that have already been discussed but not implemented).
05-21-2010, 04:41 PM
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