State Control of NYRA Extended Another Year
Mar 30, 2015 22:49:35 GMT -5
Post by Jon on Mar 30, 2015 22:49:35 GMT -5
and another and another.......until the horse hating gov is gone! he's going to find a way to take $ allocated to tracks and give it to the far too may casinos he wanted (see last sentence) - this is no surprise - especially considering the board has too many of his pals
State Control of NYRA Extended Another Year
By Tom Precious
Bloodhorse
New York officials have agreed to keep intact the state's oversight of the New York Racing Association, a control period that was to expire this October.
In a three-paragraph section buried in one of the thousands of pages of state budget bills, New York will not let NYRA revert back to private hands this fall as scheduled. Instead, for up to another year, the NYRA board of directors will be controlled by a majority of members appointed by Gov. Andrew Cuomo.
The additional one-year control period is contained in a budget bill agreed to by Cuomo and both legislative chambers that was printed shortly before midnight March 29. The budget, including the NYRA provision, is expected to be formally approved in coming days.
When state officials took over control of NYRA in 2012, Cuomo made clear he wanted out of the business of running a three-track racing entity after three years. But NYRA and its board has yet to advance, at least publicly, any plan to change how its operations might improve or be different once it emerges from state oversight.
NYRA has also failed to submit a report to state officials outlining governance and other plans for the NYRA's future. Several board meetings last year included discussions about wanting to develop the plan.
"We're still demanding that report,'' Assembly Racing and Wagering Committee chairman Gary Pretlow said of the report. He said the report needs to be submitted to lawmakers now, whether or not the expanded oversight control period ends up lasting a full year.
Pretlow said lawmakers have little choice but to go along with extending the oversight period, because the Cuomo administration and NYRA have yet to devise a new corporate model for the not-for-profit racing entity that owns Aqueduct Racetrack, Belmont Park, and Saratoga Race Course.
"It hasn't fulfilled its function yet,'' Pretlow said in a March 29 interview, as lawmakers were heading back to the state capital in Albany to try to close down unresolved portions of the state budget. "If it disbanded, then we'd be back to where we were in the beginning.''
The NYRA board is charged with coming up with a report on its future 180 days before the state oversight period ends. Whether the NYRA issues a report soon or if the year extension buys NYRA and the governor's office more time to plan, the racing group's future remains uncertain.
The state took over NYRA following a series of financial, racing, and public relations missteps. For decades, NYRA and the state have had a bumpy relationship. While NYRA's finances have improved, there are still a host of issues still facing NYRA, as it competes against more gambling venues coming into the Northeast market.
State Control of NYRA Extended Another Year
By Tom Precious
Bloodhorse
New York officials have agreed to keep intact the state's oversight of the New York Racing Association, a control period that was to expire this October.
In a three-paragraph section buried in one of the thousands of pages of state budget bills, New York will not let NYRA revert back to private hands this fall as scheduled. Instead, for up to another year, the NYRA board of directors will be controlled by a majority of members appointed by Gov. Andrew Cuomo.
The additional one-year control period is contained in a budget bill agreed to by Cuomo and both legislative chambers that was printed shortly before midnight March 29. The budget, including the NYRA provision, is expected to be formally approved in coming days.
When state officials took over control of NYRA in 2012, Cuomo made clear he wanted out of the business of running a three-track racing entity after three years. But NYRA and its board has yet to advance, at least publicly, any plan to change how its operations might improve or be different once it emerges from state oversight.
NYRA has also failed to submit a report to state officials outlining governance and other plans for the NYRA's future. Several board meetings last year included discussions about wanting to develop the plan.
"We're still demanding that report,'' Assembly Racing and Wagering Committee chairman Gary Pretlow said of the report. He said the report needs to be submitted to lawmakers now, whether or not the expanded oversight control period ends up lasting a full year.
Pretlow said lawmakers have little choice but to go along with extending the oversight period, because the Cuomo administration and NYRA have yet to devise a new corporate model for the not-for-profit racing entity that owns Aqueduct Racetrack, Belmont Park, and Saratoga Race Course.
"It hasn't fulfilled its function yet,'' Pretlow said in a March 29 interview, as lawmakers were heading back to the state capital in Albany to try to close down unresolved portions of the state budget. "If it disbanded, then we'd be back to where we were in the beginning.''
The NYRA board is charged with coming up with a report on its future 180 days before the state oversight period ends. Whether the NYRA issues a report soon or if the year extension buys NYRA and the governor's office more time to plan, the racing group's future remains uncertain.
The state took over NYRA following a series of financial, racing, and public relations missteps. For decades, NYRA and the state have had a bumpy relationship. While NYRA's finances have improved, there are still a host of issues still facing NYRA, as it competes against more gambling venues coming into the Northeast market.
