New York Franchise Oversight Board

NYRA defends appointment of president and secretary

The New York Racing Association, Inc. (NYRA) Board of Directors exercised its business judgment as a private, not-for-profit corporation to appoint a President and Secretary. These appointments were made to stay in compliance with NYRA’s Bylaws, Article VII, Section 7.01. NYRA’s Board acted to insure that there was professional management in place to operate a […]

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New York officials: NYRA’s marketing budget is ‘pitiful’

While the New York Racing Association has been touting its purse, handle, and revenue increases due to casino gambling, the New York State Franchise Oversight Board is unimpressed, reports the Times Union. The FOB says there are not enough people interested in the sport to make it sustainable. “The fundamental problem with racing is the […]

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State oversight board questions NYRA executive salaries

According to the Wall Street Journal, New York’s Franchise Oversight Board, citing a lack of cooperation from NYRA and concerns about its proposed budget, has directed New York’s inspector general to examine its operations. In a June 21 letter to NYRA President Charles Hayward, board chairman Robert Megna said there were “significant and unacceptable gaps” […]

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