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Originally Posted by MisterB
From Bloodhorse
Australian-based Capital Play, which is considering a merger with what's left of Empire Racing Associates to try to win the NYRA franchise, jumped on the tax dispute. "Racing is supposed to generate money for education. Instead, NYRA is bankrupt and the IRS is seeking $1.6 billion from them. NYRA's era of mismanagement must be ended,'' Hank Sheinkopf, a Capital Play spokesman, said in a statement Oct. 31.
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Why would he be a "fan" of NYRA? He's competing with them, no?
The IRS claim is probably high by a factor of 10x-100x to any tax liability. That's how the IRS plays. I don't know if IRS claims against organizations like NYRA are public information.
Not a nice move but so what?