Franchise Oversight Board

Saratoga: Franchise Oversight Board Approves 10-Year Renovation Plan

During a meeting held Tuesday, the New York Racing Franchise Oversight Board approved NYRA’s long-term plans for renovations at Saratoga. According to a report in the Daily Racing Form, the board unanimously approved the plan, entitled “Final Generic Environmental Impact Statement.” The plan, which was originally presented as a draft to the board in 2015, lays out […]

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Report: Franchise Oversight Board Questions NYRA CEO’s Bonus Criteria

The New York Racing Association’s Franchise Oversight Board met Sept. 15 to discuss performance standards of the organization. The Franchise Oversight Board was created to monitor NYRA’s finances before the state took control of the racing organization. Although the agency approved a report that gave NYRA a ‘passing grade’ on meeting its performance standards, it […]

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NYRA meeting gets heated

A meeting between the New York Racing Association and the Franchise Oversight Board became heated on Friday afternoon when the groups met to extend the contract with United Tote. The betting company’s contract was scheduled to expire at the end of October but will be extended one month. Oversight board member Richard Aurelio accused the […]

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Hayward on Disclosures: I made a mistake

NYRA president and CEO Charlie Hayward admitted to making a mistake in not disclosing the current salaries for its senior officials to New York’s Franchise Oversight Board. The salaries were provided to the board on Friday according to Hayward after assuming that stating last year’s salaries and a planned 5.5% raise were enough. “I made […]

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By Ray PaulickIt was a sure thing that New York politicians would complain about the annual compensations paid to New York Racing Association president Charlie Hayward and chief operating officer Hal Handel, who reportedly are paid $460,000 and $440,000 per year, respectively. And true to form, Democratic Assemblyman Gary Pretlow chimed in with the following […]

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