B-H: NYRA Deal Appears Close.. Maybe

[Kasept]

We've heard it before, but the details in Tom Precious' and Karen Johnson's piece at Blood-Horse lend credence... Draft of deal package circulating among legislators which is a good sign..

FULL ARTICLE:
http://news.bloodhorse.com/viewstory.asp?id=43526

A tentative deal is within reach to give the New York Racing Association a 25-year franchise to run Aqueduct, Belmont Park, and Saratoga, legislative sources said Feb. 6, the same day NYRA indicated live racing at Aqueduct could end Feb. 14. The second temporary extension for NYRA ends Feb. 13.

Officials, who spoke on condition of anonymity, said a framework deal includes a newly composed NYRA board, though NYRA would retain voting-majority control of the new board. It also imposes 10 benchmarks NYRA would have to meet over a four-year period, involving such things as attendance, fiscal performance, and backstretch conditions; failure to meet the benchmarks could result in revocation of the franchise.

The components of the proposal are contained in a 189-page draft that is circulating among the negotiators...

[Hickory Hill Hoff]

Not so fast.....

http://drf.com/news/article/92106.html

[ddthetide]

steve, does this mess affect the bbq stand? IF the nyra doesn't get the license back could you lose your spots on the grounds?

[Hickory Hill Hoff]

Originally Posted by ddthetide

steve, does this mess affect the bbq stand? IF the nyra doesn't get the license back could you lose your spots on the grounds?

Let's hope it doesn't get to that this mess should have been corrected much, much sooner.....but then again, that's how things are handled here in the "Empire" state

[eajinabi]

Does this mean there will be no more racing in NY?

[Scav]

This might be a really dumb option as I might not know how the whole process works but I am going to throw it out there.

I personally think what the NYRA is doing right now is smart. Take away the food and let these politicians starve a little. People never realize what they are missing until it is gone, and when a couple days of takeout is missing out of those NY pools, the state is going to get their **** together.

I understand that the horseman,bettors,and employees end up getting screwed, short-term, but maybe the notion of one step back means two steps forward applies here. I don't know.....

[letswastemoney]

You know what a worst case scenario would be....if there was no racing in NY....and suddenly the worst storm ever hit Santa Anita!!

There would be no major circuits except Gulfstream lolol

Wait that's not funny...

[ELA]

What I find interesting is Rick Violette's comments in a related DRF story.

Full article:

http://www.drf.com/news/article/92098.html

Violette, who has 39 horses in New York and 30 more in Florida, said NYRA’s letter is “putting pressure on the legislature” to make a deal.

“We hope it’s a good deal and not some rush to get something done because they’re tired of talking about it,” Violette said.

Violette reiterated the horsemen’s position that the portrayal of Bruno as the person holding up an agreement “is irresponsible.” Violette said Bruno has been the only one fighting for the horsemen’s rights, including a proper cut of projected revenue from slot machines at Aqueduct as well as a change to law that currently doesn’t require horsemen’s approval of NYRA’s simulcasting contracts.

Irresponsible? The NYTHA and NYRA had more than their fair share of opportunity to negotiate for "horsemen's rights" -- including the % of VLT revenue; and only part of that was during the time in which the NYTHA threw their support behind, sided with, and endorsed Empire. Marketing dollars, backstretch improvements, and more, was part of the deal from the very beginning.

This also took place well prior to the bankruptcy filing. During this time, NYRA made numerous efforts and asked to work with the NYTHA on a regular basis and NYRA was summarily shunned.

So now Bruno is the only one fighting for horsemen's rights? Seems to be a very myopic and slanted view to me.

Eric

[blackthroatedwind]

I guess Rick wants to keep his record of always being wrong during this entire situation both consistent and pristine.

Nothing like backing the wrong horse in every race.

[ELA]

Originally Posted by blackthroatedwind

I guess Rick wants to keep his record of always being wrong during this entire situation both consistent and pristine.

Nothing like backing the wrong horse in every race.

Andy, I agree, but as you know, it's also much more than that. This is reflective of the entire situation as it relates to the NYHTA, their role, etc. It's that face and mindset, coming from the leadership of the NYTHA, that causes fractionalization.

Eric

[deltagulf]

Originally Posted by letswastemoney

You know what a worst case scenario would be....if there was no racing in NY....and suddenly the worst storm ever hit Santa Anita!!

There would be no major circuits except Gulfstream lolol

Wait that's not funny...

yes it is they could come down to the third oldest track in u.s. the fair grounds. track very similar to churchhill.

[whodey17]

Originally Posted by Kasept

We've heard it before, but the details in Tom Precious' and Karen Johnson's piece at Blood-Horse lend credence... Draft of deal package circulating among legislators which is a good sign..

FULL ARTICLE:
http://news.bloodhorse.com/viewstory.asp?id=43526

A tentative deal is within reach to give the New York Racing Association a 25-year franchise to run Aqueduct, Belmont Park, and Saratoga, legislative sources said Feb. 6, the same day NYRA indicated live racing at Aqueduct could end Feb. 14. The second temporary extension for NYRA ends Feb. 13.

Officials, who spoke on condition of anonymity, said a framework deal includes a newly composed NYRA board, though NYRA would retain voting-majority control of the new board. It also imposes 10 benchmarks NYRA would have to meet over a four-year period, involving such things as attendance, fiscal performance, and backstretch conditions; failure to meet the benchmarks could result in revocation of the franchise.

The components of the proposal are contained in a 189-page draft that is circulating among the negotiators...

The key words in this piece are "fiscal performance." NYRA has never been able to demostrate any kind of fiscal performance except for a losing fiscal performance.

[ELA]

NYRA, or any other franchise operator for that matter, cannot be expected to meet any State imposed fiscal benchmarks -- not without a drastic change and overhauls in several landscapes -- legal, legislative, tax, and others (perhaps OTB included).

As everyone knows VLT's and the "cut" from them are not the entire solution; and if it's not done right, it's worse -- then it becomes part of the problem.

How many of the bidders wanted the franchise before the VLT legislation passed? More importantly, how many of them wanted it without the overhauls that have been discussed (and included in every single proposal)? The answer -- none of them, including NYRA.

Eric

[whodey17]

I love how people blame other entities for the fiscal shortcomings of the NYRA. One has to operate within the boundaries it was given. I really enjoy racing in NY and it could be so much better.

[ELA]

Personally, I don't think it's blame at all. Was NYRA completely innocent of wrongdoing, poor management, and other things as well? Of course not. However, have they always been guilty of same? No, certainly not. I've been a critic of NYRA for a long time, on many specific issues where they were certainly wrong. They were guilty on the horsemen's purse account, and how that entire situation was addressed and handled. However, I've also been a critic of the NYTHA and I am a horse owner. However, that's not blame.

In understanding the business and being part of it, I think it's also important to understand the nature of the business, the business model, and more. Being in the business you can look at the business both vocationally and advocationally.

It worked before, and it will work again. Of course NY racing can be so much better. It can be the best in the industry. The fiscal shortcomings of NYRA -- are in fact the fiscal shortcomings of the industry and business model in NY.

Eric

[zippyneedsawin]

Sign up now for Aqueduct's SHOWdown contest! It begins February 14... I just love the timing of this.



https://www.nyra.com/Signon.do?TRK=AQU

[whodey17]

Originally Posted by ELA

Personally, I don't think it's blame at all. Was NYRA completely innocent of wrongdoing, poor management, and other things as well? Of course not. However, have they always been guilty of same? No, certainly not. I've been a critic of NYRA for a long time, on many specific issues where they were certainly wrong. They were guilty on the horsemen's purse account, and how that entire situation was addressed and handled. However, I've also been a critic of the NYTHA and I am a horse owner. However, that's not blame.

In understanding the business and being part of it, I think it's also important to understand the nature of the business, the business model, and more. Being in the business you can look at the business both vocationally and advocationally.

It worked before, and it will work again. Of course NY racing can be so much better. It can be the best in the industry. The fiscal shortcomings of NYRA -- are in fact the fiscal shortcomings of the industry and business model in NY.

Eric

Agree--nice post.