For the past five years, the New York Racing Association has been under control of a board of directors dominated by the selections of Governor Andrew Cuomo. In order to return NYRA to private control, Cuomo and the New York legislature are attempting to hammer out exactly what a new board will look like. According to bloodhorse.com, proposals entered late Monday evening would significantly reduce the Governor's control over a privatized NYRA.
Currently, Cuomo is supporting a plan which would allow him six appointees on the new board of directors (both the Assembly and Senate leaders would select one member apiece, leaving Cuomo with four appointees). Eight additional seats would be filled by the current eight NYRA board members, and a 15th member would be the NYRA president. Both the New York Breeders Inc. and the New York Thoroughbred Horsemen's Association would be allowed one board member apiece, but that individual would have no voting rights.
The new legislation proposed by both the Assembly and the Senate would also have 15 board members, but the breeder's and horsemen's representatives would get voting rights. The NYRA president would be allowed a board seat, along with the eight current board members. This leaves one appointee each for the leaders of the Assembly and the Senate, and just two for Gov. Cuomo. The new legislation also eliminates the “vague” financial powers which Cuomo proposed giving to the oversight board.
Read more at bloodhorse.com.
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