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02-24-2009, 05:43 PM
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State court rejects NYRA appeal in NYC-OTB suit
Court Refuses NYRA Appeal in OTB Case
By Tom Precious http://www.bloodhorse.com/horse-raci...al-in-otb-case The New York Court of Appeals rejected an appeal motion by NYRA in a case brought in 2004 against the New York City Off-Track Betting Corp. A lower appellate court had found NYRA did not timely file its legal action against NYCOTB within a 90-day period of its claims that the OTB had breached a simulcasting contract. At issue is a contract that dates back to 1996 involving annual payments from NYCOTB to NYRA for its simulcasting signals. Under the terms of the original deal, NYCOTB pays NYRA $675,000 a month for the signal. When the contract expired in 2002, a clause was to have kicked in permitting the terms to continue, but with NYCOTB paying an increased fee -- 7.75% on a base of $9 million beyond the $675,000 monthly level.
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