I have to admit that I am completely ignorant when it come to horse racing in New York but, can someone answer for me as to WHY we are giving 305 Million Tax Dollars to them? To bail them out of Bankruptcy? This makes absolutely NO sense to me whatsoever. It stinks the high heaven and I have a lousy nose.

The racing organization will get another $105 million, on top of more than $200 million the state has already given it, to help itself get out of bankruptcy.

Legislature OKs Deal to Renew NYRA’s Racing Franchise

After months of debate and at time threats to close down racing in New York, NYRA finally has a deal.

The legislature passed a bill late Wednesday afternoon to renew NYRA’s control over Aqueduct, Belmont, and Saratoga for the next 25 years.

Lawmakers got the bill and a request to waive the normal aging process around 7 Wednesday morning, and after fits and starts, finally voted late in the afternoon to keep racing going in New York, with some changes for the better.

Under the terms of the agreement, NYRA will run New York’s thoroughbred tracks for another 25 years, with four year benchmarks for monitoring to make sure they’re doing what they’re supposed to.

The racing organization will get another $105 million, on top of more than $200 million the state has already given it, to help itself get out of bankruptcy.

NYRA’s board of trustees will now consist of 25 people — 14 chosen by them, 11 by the governor, lawmakers and racing interests.

NYRA also ends the long-standing debate of who owns the land the tracks are on by giving up its claims to it, meaning the title to that real estate goes to the state of New York.

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