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Tuesday, October 31, 2006

News and Notes - Oct 31

- Here's more on NYRA's refusal of a deal that would release the remaining $19 of its bailout in installments. Faced with impending bankruptcy, Charles Hayward, feeling that it's too short and slippery, still refuses to grab onto this latest lifeline offered by the state.

The deal is unsatisfactory...because it would require more action from the Non-Profit Racing Association Oversight Board, which voted on the new deal Monday, and still comes without approval of NYRA's application to open a casino at Aqueduct Race Track.

Further, the loan deal, Hayward said, seems to be a double-cross.

"We had an indication directly from the people in the governor's office that this was going to go a different way," Hayward said. "This resolution ... throws up more hurdles than what was in the original legislation." [Albany Times Union]
As he did last December, Hayward hardly conducts himself as a man desparate for cash. Using the threat of bankruptcy, he instead plays as if he's the one in control, and you have to admire his moxie if nothing else. NYRA's back may be against the wall, but it instead always seems as if it's the state that's on the defensive. By the way, Hayward also correctly mentioned the casino at Yonkers, wondering how it could possibly have been allowed to open despite years of dumping raw sewage in the Bronx River and a lawsuit by horse owners against the track for failing to run racing.

- Let's go back to last night's halftime on ESPN. If there's someone out there who was brave enough to tolerate Tony Kornheiser for three hours, please let us know if there was any significant Breeders Cup promotion in the second half (I counted two 15-second ads, one during the first half and another at halftime).

The more I think about it, the more I'm totally galled by what happened at halftime. On the field, they ran something called the Halloween Derby, in which people dressed as embarrassing caricatures of the ESPN crew raced across the field. I thought this was obviously going to be a lead-in to a mention of the Breeders Cup but nah, it was just a shameless promotion of itself. I can't believe that they would actually have a race - complete with "they're off" and a race caller - and not try and relate it to the upcoming broadcast!


Anonymous said...

I admire Hayward as a businessman, for a man fighting what he surely knows is a losing battle he is laying it all out there busting his but and earning his pay.

Bankruptcy court is coming sooner or later, but as a horseman I would prefer later as I am afraid if they lose the land decision they could be forced to shut down before a replacement is in place.

Charlie is 100% correct, the bail out was previously negotiated, the state reneged, and now the state is reopening the negotiations.

And NYRA falls further down the abyss.

Walter said...

I just spent over a half-hour posting a long, well-thought-out analysis of the top contenders in 3 of the Breeders Cup races on Dan Illman's DRF "FormBlog". After i submitted my comment, a window pops up and says "Sorry, you're comment cannot be accepted". Period. That was it. No reason why, no option to go back and make corections, no option to do anything. I can only guess that it was too long, but i have no freaking idea. Over a half-hour of my life completely wasted. Thanks for nothing, DRF.

Anonymous said...

- Here's more on NYRA's refusal of a deal that would release the remaining $19 million of its bailout in installments