Going nowhere fast

Having paused for the trip over the river and through the woods, we return to confront squarely the eleventh hour of racing in New York. This is where the political ego and the prospect of new frontiers of patronage and kickbacks trump the good of the state and its people, who are trampled as the power play unfurls.

Four racing days remain before the New York Racing Association’s franchise expires on at the stroke of midnight, Dec. 31, a day on which there is no racing scheduled at Aqueduct, a hearing on NYRA’s bankruptcy proceeding was postponed yesterday and not even the rhetoric has evolved beyond the pre-Christmas stalemate.

According to the Saratogian:

“Discussions are ongoing,” said Jeff Gordon, a spokesman for state Budget Director Paul Francis, one of the state’s key representatives in franchise negotiations.


NYRA’s reorganization plan is predicated on a non-binding, Sept. 4 memorandum of understanding (MOU) between NYRA and Spitzer. Under that plan, the state would give NYRA $125 million to pay off creditors, NYRA’s $75 million state debt would be forgiven and a framework would be established for NYRA to pay off its $95 million pension fund debts
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“This is another example of why the [memorandum of understanding] and the deal that NYRA wishes to strike with the state is a good one,” NYRA President and CEO Charles Hayward has said. “Every employee’s pension will be fully funded.”

Also, NYRA has pledged to relinquish its land claim, effectively giving the state ownership of the racetracks, which are valued at more than $1 billion.

[Sen. Joe] Bruno, however, objects to the NYRA-Spitzer deal, saying it’s not in the best interests of racing or state taxpayers.

“NYRA has repeatedly used bankruptcy as a cover to resist change and complicate negotiations on the future of the racing franchise,” he said recently. “NYRA continues to bleed money.”

Bruno has called for creation of a new public authority to run racing, with a state Oversight Board at its core. State law calls for the Oversight Board to conduct racing if a franchise agreement isn’t reached by Dec. 31.


For reasons discussed earlier, the Oversight Board will not conduct racing if no agreement is in place. For reasons beyond the comprehension of any except Bruno’s political, delusional, power and patronage-driven mind, there is virtually no chance an agreement will be reached, though negotiations resumed on Thursday. The current odds on a shutdown on Tuesday, 2-5.


As opposed to no racing, unplayable racing

With two stakes including one rescheduled when the Dec.16 card was cancelled because of weather, Saturday’s card at Aqueduct may offer a bit more in the way of wagering potential, which would be a vast improvement over the last two programs, including Friday’s, which string together 18 unplayable races. Hence, the correct selection: Pass.