Quote:
Originally Posted by parsixfarms
Assuming they go cash-flow positive once Saratoga starts, we're only talking about a relatively brief period of time (and modest amount of $$) to get to July 23. And the amount we're talking about is chump change for the people sitting on the NYRA Board of Trustees.
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I would doubt that they immediately go into a cash flow positive position once Saratoga starts. It is my understanding that the vast amounts of money to be paid to tracks from the various outlets doesn't always come in a timely fashion. Not to mention the cash outlay they must incur in setting up shop there.
As for the Board, it would quite possibly be illegal for Board members to inject that kind of cash into a non-profit and like pmac said a terrible presendent wuld be set. It would be used as "proof" that NYRA is just a bunch of rich guys looking for a state "bailout".
05-21-2010, 01:37 PM
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