NYRA: Spitzer nod on 30 yr renewal

[GenuineRisk]

According to NY1 this morning, Spitzer will announce he's in favor of the NYRA maintaining control of the tracks (and slots, I believe it said). I think the Legislature still has to approve it.

[Danzig]

with all the foot dragging that's been going on, i really felt nyra would retain control. a bit late now to hand it over to someone new.

[sumitas]

Now how about getting the slots going. It's been how long ? 4 years ?

[Norfolk]

From New York Sun
Spitzer Will Choose NYRA To Run Racing
http://www.nysun.com/article/61835

[sumitas]

This article states there may be vlt gambling at old Saratoga. If that's the case then you'd think they'd have to build a separate building away from the track so as not to disrupt the historic nature of the track.

[MisterB]

Originally Posted by sumitas

This article states there may be vlt gambling at old Saratoga. If that's the case then you'd think they'd have to build a separate building away from the track so as not to disrupt the historic nature of the track.

Never happen. The Racino is across the street. You can't even have an OTB is Saratoga County

[GenuineRisk]

NY1 mentioned slots at Belmont and Aqueduct, but not Saratoga.

Props to them for mentioning it, but no props for saying, "It was a photo finish, but NYRA.. blah blah blah." What? Photo finish? I think "It was a long run in the stretch" or "It was getting down to the wire" or something else would have been a better metaphor.

Interesting last paragraph in the Sun article. So all that $$ contributed to Spitzer may not have been in vain for one of the other parties, anyway.

[pgiaco]

Could it be that the State of NY has done something right for racing? I'm still a little skeptical in that this State could screw up a free lunch. In the mean time I do hope they can get those slots at Aqueduct humming to fuel purses like they had at the Spa. It will certainly make February at Aqueduct a little more appealing.

[viscount26]

Originally Posted by pgiaco

Could it be that the State of NY has done something right for racing? I'm still a little skeptical in that this State could screw up a free lunch. In the mean time I do hope they can get those slots at Aqueduct humming to fuel purses like they had at the Spa. It will certainly make February at Aqueduct a little more appealing.

Nothing would make Aquaduct appealing in February. I've tried that.
Unless Kev is buying the beers of course

[paisjpq]

http://www.drf.com/news/article/88240.html

This was a no-brainer. It was all about the governor getting rights to $1 BILLION dollars worth of land. Now you can pretty much kiss Aqueduct goodbye. It will be sold to a Spitzer friend for real estate development. Spitzer's family made it's fortune in the real estate game.

NYRA does a good job but the reality is that taxpayers made a loan to them and NYRA is basically defaulting on the loan. So the governor's friends get rich, NYRA once again has no accountability, and the taxpayer gets screwed.

Gotta love NY.

NYRA vice chairman Jim Heffernan said the end of the land-claims dispute with the state means NYRA is relinquishing its ownership in about $1-billion worth of property at the three tracks. In return, the state is forgiving about $130 million NYRA owes it, including about $30 million provided over the past year.

[Kasept]

Originally Posted by Benevolus

NYRA does a good job but the reality is that taxpayers made a loan to them and NYRA is basically defaulting on the loan. So the governor's friends get rich, NYRA once again has no accountability, and the taxpayer gets screwed.

That's nonsense and a misrepresentation of the truth. It was in fact the State of NY that regularly 'defaulted' on agreements made to NYRA that placed the Association in an impossible position.

It was the Pataki administration that purposefully delayed VLT construction at Aqueduct in the hopes of destroying the Association to the point where it could decide the franchise question in favor of its' cronies. NYRA had been waiting since 1985 for the State of NY to address the franchise situation, a scenario which had been festering as each passing Governor failed to tackle the issue(s). And how exactly are the taxpayers screwed in a deal where the state nets $870 million worth of assets?

And accountability? NYRA has had the ultimate accountability the last 3 years having to clean out the viruses introduced by the vile Kenny Noe during his corrupt tenure in the '90's. I'm just back from the track and the press conference with Steve Duncker, Jim Heffernan and Charlie Hayward which was deservedly celebratory. Hayward broke down during his opportunity to comment on things as he spoke about the Association being the object of ridicule during the franchise process. His stewardship during this period has been remarkable, and NYRA's repeated refusal to stoop to the level of the colluded smear campaign engaged in by the likes of the NY Daily News, Times-Union, Jerry Bailey and Jeff Perle is something for which he'll long be remembered.

NYRA and its' non-profit model was the ONLY choice for racing in New York, and today's announcement goes a long way towards ensuring that the quality of racing in the state is maintained and kept at the highest level possible. There are still questions regarding the OTB problem(s) to be addressed, but the 'good guys' won today, and we as racing fans are winners along with them.

Just a reminder...

For those wanting to purchase Jerry Bailey's Inside Track 2-cd set...It would be wise to do so now while it's still $29.95.

[Sightseek]

Originally Posted by Kasept

NYRA and its' non-profit model was the ONLY choice for racing in New York, and today's announcement goes a long way towards ensuring that the quality of racing in the state is maintained and kept at the highest level possible. There are still questions regarding the OTB problem(s) to be addressed, but the 'good guys' won today, and we as racing fans are winners along with them.

Yay!!

[fpsoxfan]

Originally Posted by Kasept

That's nonsense and a misrepresentation of the truth. It was in fact the State of NY that regularly 'defaulted' on agreements made to NYRA that placed the Association in an impossible position.

It was the Pataki administration that purposefully delayed VLT construction at Aqueduct in the hopes of destroying the Association to the point where it could decide the franchise question in favor of its' cronies. NYRA had been waiting since 1985 for the State of NY to address the franchise situation, a scenario which had been festering as each passing Governor failed to tackle the issue(s). And how exactly are the taxpayers screwed in a deal where the state nets $870 million worth of assets?

And accountability? NYRA has had the ultimate accountability the last 3 years having to clean out the viruses introduced by the vile Kenny Noe during his corrupt tenure in the '90's. I'm just back from the track and the press conference with Steve Duncker, Jim Heffernan and Charlie Hayward which was deservedly celebratory. Hayward broke down during his opportunity to comment on things as he spoke about the Association being the object of ridicule during the franchise process. His stewardship during this period has been remarkable, and NYRA's repeated refusal to stoop to the level of the colluded smear campaign engaged by the likes of the NY Daily News, Times-Union, Jerry Bailey and Jeff Perle is something for which he'll long be remembered.

NYRA and its' non-profit was the ONLY choice for racing in New York, and today's announcement goes a long way towards ensuring that the quality of racing in the state is maintained and kept at the highest level possible. There are still questions regarding the OTB problem(s) to be addressed, but the 'good guys' won today, and we as racing fans are winners along with them.

Very well said. Congratulations NYRA!!!!!!

[Hickory Hill Hoff]

It has been four long years, but in the end the best group to run thoroughbred racing in N.Y won...let the political games end (although I highly doubt that) and continue with the great product NYRA has to offer. Racing is the top priority from here on out!

[pgiaco]

Agreed, this is the best thing to happen to NY racing in years...Have to also agree with the point that Charlie Hayward is a first class guy and cannot be given enough credit for pulling, basically a rabbit out of a hat, to save NYRA. Now if the State doesn't try to play politics, maybe racing here can get back on track.
Don't get me started on the OTBs though.

[ELA]

Originally Posted by Benevolus

This was a no-brainer. It was all about the governor getting rights to $1 BILLION dollars worth of land. Now you can pretty much kiss Aqueduct goodbye. It will be sold to a Spitzer friend for real estate development. Spitzer's family made it's fortune in the real estate game.

NYRA does a good job but the reality is that taxpayers made a loan to them and NYRA is basically defaulting on the loan. So the governor's friends get rich, NYRA once again has no accountability, and the taxpayer gets screwed.

Gotta love NY.

NYRA vice chairman Jim Heffernan said the end of the land-claims dispute with the state means NYRA is relinquishing its ownership in about $1-billion worth of property at the three tracks. In return, the state is forgiving about $130 million NYRA owes it, including about $30 million provided over the past year.

This is not a no brainer and is a very myopic view of a very complex situation. It also doesn't address a great deal of what is most beneficial to the industry, and in reality, the taxpayers of NY. If the relinquishing of any claim to the land is part of the deal, and the land reverts back to the State -- does that not provide benefits to the taxpayers of NY?

In addition, does anyone truly believe that a sweetheart deal is going to take place on the sale of (a part of) the land? I would think that this would be one of the most scrutinized deals in Spitzer's entire tenure in office. It would also have to be reviewed thoroughly and approved by multiple parties (the different components and parties of the legislature). We all know that political deals take place and we've all heard about the scandals, however, with the scrutiny surrounding this situation and any potential deal, I don't think you are going to see a BS/sweetheart deal.

Anyone who buys land like this will get more benefits -- not on the purchase price -- but on the back-end; tax breaks, abatements, re-development benefits, and/or perhaps loans, government money, etc. This would happen whether it's a friend of Spitzer's or not. That happens everyday, in many cities across the US. I would also think the RFP process would be iron-clad, however I am sure the critics would find fault regardless of the process.

It is generally accepted by experts within the industry that NYRA is most qualified to run the franchise and that the current model needs to be fixed. Why would NYRA be willing to give up their claim to the land? A billion dollars? Think about this. Nobody -- and I mean nobody -- was looking to get the franchise before the VLT legislation was approved.

Eric

[ELA]

Originally Posted by Cardus

After settling the question of whom will run the New York tracks, you know that the OTB dilemna is the next mountain, not that I expect a change in the relationship between NYRA and the state OTB branches.

I would expect a change. Not as part of this deal, but it will be accounted for in some respect, or many perhaps. I think the OTB issue gets resolved as part of the changes in the VLT legislation.

Eric

[pgiaco]

Good Luck negotiating the political cesspool that is NYCOTB. The patronage and incompetence is so ingrown that I don't know how you can fix the problem. It has always escaped me why NYRA and OTB were set up as competitors. There would be more than enough pie to go around if it was one entity.