Saturday, April 19, 2014

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Cuomo Puts Financially Troubled NYRA Under Temporary State Control

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Governor Andrew Cuomo has signed legislation aimed at cleaning up the management of horse racing in New York.

The bill establishes the New York Racing Authority Reorganization Board, which puts the financially troubled organization under temporary government control.

Over the next three years, the board will restructure and reorganize NYRA, with directors appointed by the governor, state Legislature, breeders and horsemen.

After that, the organization will revert back to majority private control.

Lawmakers say the board will end corruption and make the sport safer.

NYRA is a non-profit that oversees the Aqueduct, Belmont and Saratoga racetracks around the state.

The Reorganization Board will go into effect when a majority of the new public directors are appointed. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP