News > Will NYRA Run The Tracks?
New York Governor Patterson is indecisive about whether or not he plans on reopening the negotiations for the deal between the state and the New York Racing Association.
NYRA was given a 25 year franchise extension to operate New York's horse racing tracks at Saratoga Springs, Belmont and Aqueduct signed off by the Governor Spitzer administration prior to Spitzer's resignation.
The deal was set in place to help NYRA come out of its Chapter 11 bankruptcy and included over $100 million to cover loans and the bailout. The final details of the agreement are currently in the works and have not yet been finalized.
On May 28, Patterson voiced his concern about the deal questioning if there was any benefit to the state in giving the racing association a franchise extension. Although earlier in the day the governor said he wanted to take a look at the deal, about four hours later in the day he also told reporters "I don't think I can reopen" [the NYRA deal].
The New York Racing Association is still in negotiations with the Paterson administration in preparation for the summer meet in Saratoga Springs at the Saratoga Race Course. Currently, NYRA has a temporary agreement which will need to renewed or the final agreement will need to be signed before the meet.
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