New Chairman for NY Oversight Board
 

For those of us that aren't real familar, good thing or bad thing?

It's a very good thing for NYRA.

Who told Stone that the Oversight Board could negotiate an extension with NYRA, or enter into the (infamously silly) "contract with a third party" nonsense? Did they even have this independent ability?

Just trying to understand this mess.

Wonder if it was:
Carole Stone, sounded a good deal more informed before she opened her mouth on Monday and suggested that the board would strike a third-party deal unless the New York Racing Association agrees to continue operation beyond Dec. 31 with no franchise agreement and no guarantees. ZINGG!

or:

Where does Ms. Stone think that, even were such action technically legal, a third party would hire a sufficient number of people to operate Aqueduct while maintaining the facilities at Belmont Park and Saratoga? Who would turn on the lights? Man the betting machines? Manicure the racing surface? Man the starting gate? Park the cars? Make the popcorn? Publish the program? And by the way … all the vendor contracts, which include closed circuit television, photo finish and timing, janitorial service, manure removal and other ingredients essential to the conduct of racing expire with the franchise. No third party has contracts in place to cover simulcasting and dissemination of the television signal to the state’s off-track betting outlets.

Apparently, Ms. Stone and her fellow board members believe that racing just happens by itself. One would think that the uninformed benefactors of the politcal system would carefully guard rather than so willingly expose their lack of expertise.
Racing is a complex endeavor. Ignorance happens by itself.
God Bless Paul Moran

So, not legal for Oversight Board to go there?

I think the third paragraph of the article is the most telling. Once the resolution referred to there was passed her fate was sealed.

so is this they should get an influx of cash just with this move..
http://www.drf.com/news/article/91061.html

All the grounds need to be cleaned. Never overlook the Environmental employees when you see a nice clean facility. It takes a lot of work to keep it that way.

Newman to Tom Precious of B-H: All agree extension needs to be finalized, formalized, etc..

http://news.bloodhorse.com//viewstory.asp?id=42856

Key quotes:

Spitzer and legislative leaders have been unable to strike a deal on the new franchise-holder to run Aqueduct, Belmont Park, and Saratoga. The sides agree NYRA will continue to run racing. But they are stuck on a number of issues, such as whether NYRA will continue to oversee all aspects of the business, how long the next franchise should last, and whether the NYRA board of directors must be replaced.

Newman said he is convinced all sides want a resolution. “All parties to this are actively working at this everyday,’’ he said. “There’s nobody sitting around waiting for somebody else to do something or change their minds. There are constant discussions.’’

Newman said there are several possibilities of how the stalemate could be resolved. He said Spitzer and legislators could come to a handshake deal on a long-term franchise extension before Dec. 31, and then have the legislature return, as scheduled, in early January to ratify it. The oversight board would still take over racing until ratification.