Hayward issues statement regarding buyout demands
Charles Hayward, former president and CEO of the New York Racing Association, issued a statement regarding his request for severance and attorney fees as detailed in the Albany Times-Union Thursday. The NYRA board deferred decision on Hayward’s demands, and similar ones by Counsel Patrick Kehoe until the conclusion of two state investigations into NYRA’s overcharging bettors by millions of dollars in takeout last year.
Hayward’s statement reads as follows:
Nearly nine months ago, my employment with the New York Racing Association was terminated arbitrarily and without cause, one week after the publication of an inaccurate “interim” report by the State Racing and Wagering Board. The NYRA Board of Directors denied my request for an opportunity to challenge the false allegations in the report or set the record straight.
The publication of the interim report led to two investigations. I have cooperated fully with both an internal NYRA investigation and with the New York Inspector Generalʼs investigation. To date, no report of either investigation has been issued to the public.
The allegations in the interim report were false. I did not act improperly in any way with respect to the “takeout” issue. I acted with complete integrity at all times during the 7 1/2 years I served NYRA, as I have throughout my career. I am proud of my contributions to NYRA and to New York racing, which today is widely regarded as the best in the country. Since May 2012, I have waited patiently for the matter of my improper termination to be satisfactorily addressed. I had an employment agreement with NYRA and met all of my obligations. I expect NYRA to do the same.