New York State Panel to investigate New York Racing Association, Saratoga, Belmont and Aqueduct
The New York Racing Association (NYRA) is a non-profit body, which is responsible for conducting races, in the state of New York, all year round, and, it is a totally separate entity from the New York State Racing and Wagering Board.
The race tracks that come under NYRA’s jurisdiction are the three major thoroughbred horse racing tracks, which include the, Saratoga Race track, Belmont Park, and, the Aqueduct racing track and that is where NYRA has established their headquarters.
NYRA solely deals with the racing events that take place in the state of New York. It kicks off its racing spectacles in the summer and Aqueduct racing track initiates the summer season in May, which goes on till mid-July.
Then comes Belmont’s turn to host a series of racing events and continue the season from the end of July till September and finally it comes down to the Saratoga race track, which keeps it alive for a good part of winter from September to the end of October,
and then the reverse cycle of going back to Belmont, and, finally ending at the Aqueduct Racing Track.
NYRA also introduced a Triple Crown like event for fillies in the country, calling it the Triple Tiara. A successful run of racing events all year round could fall into jeopardy after the NYRA officials not ready to disclose information on a number of issues,
one was granting substantial management raises, and, an agreement over the Churchill-downs owned entity.
All of this did not sit well with the New York State panel and they have sent NYRA an unpleasant letter that the lack of fiscal transparency will not be tolerated and if the situation prevails then we might be in for more un-pleasantries between the two
bodies.
Robert Megna, who is the budget director for New York Governor, states that he has no idea what’s going on at NYRA and that panel is suspicious of its racing operations and keeping everyone in the dark.
The oversight panel has come together to look into NYRA’s finances and it came into motion when NYRA failed to provide the annual budget information to the officials.
Officials at the Capitol are not happy with NYRA’s unprofessional attempt to evade the meeting on 20 June where it was supposed to be part of a question answer session with the State officials and not even providing them with the complete details of their
finances, which resulted in probing and questioning through official letters.
NYRA has also said that they have not received any letter from the panel. The panel seems to be helpless unless NYRA comes out in the open and discloses its financial details because the panel has limited fiscal authority over NYRA.
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