NEWS
NYRA, state oversight board reach temporary agreement
Posted: Monday, December 31, 2007 4:10 PM
An agreement between the New York Racing Association and a state oversight board to keep New York’s three major tracks operating through January 23 was finalized on Monday, the day NYRA’s current franchise was set to expire.
The deal was reached just two days after the New York State Racing and Wagering Board failed to approve a temporary license for NYRA during ongoing discussion of a long-term franchise agreement.
“NYRA has reached an agreement with the oversight board and the state to continue racing at Aqueduct on a temporary basis through January 23, 2008,” NYRA Chairman C. Steven Duncker said in a statement on Monday afternoon.
“On behalf of our fans, employees, and the participants in the racing industry, NYRA wants to thank Governor Eliot Spitzer and Steven Newman, chair of the oversight board, for their extraordinary efforts to continue racing at Aqueduct.”
NYRA has operated Aqueduct, Belmont Park, and Saratoga Race Course since 1955. On September 4, Spitzer and NYRA inked a memorandum of understanding that would keep NYRA in place for 30 more years, while having a separate group run a proposed casino at Aqueduct.
That plan, or any other, however, must be approved by the legislature, and certain members, most notably Senate Majority Leader Joseph L. Bruno (R-Saratoga Springs), have voiced their disapproval of Spitzer’s plan.
While Spitzer wants to keep NYRA in place for another 30 years, Bruno has said the next contract should be shorter, perhaps 15 or 20 years, with formal reviews every three years for greater accountability. He also has repeatedly called for the resignation of the entire NYRA board, replaced by a new public authority with members chosen by state leaders.
Both sides continue to work toward a compromise to stabilize the future of New York racing, which now will continue until at least January 23. Key differences that will have to be worked out include the exact length of the next contract, the makeup and size of NYRA’s board, where gaming should be allowed, and who should conduct various parts of the franchise, such as simulcasting, tote operations, and marketing.
