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Sunday, May 23, 2010

Sunday Morning Notes, Pt 2

There are two maiden special weight races on the Belmont card today; but the combined number of runners (11) is less than the 12 entered in the one to be run as the 5th at Monmouth. Bettors will presumably choose to participate in the Jersey race. But, if you're a horseman, would you rather run for a $30,000 winner's share against four or five others in New York, or against 11 others for around $37,500 at Monmouth (and a $1500 guarantee just for starting)?

In the Monmouth race, first time starter Capital Market seems worth a gander at his 10-1 morning line. Darley bought this son of the good first-out sire Indian Charlie for $500,000 as a yearling.....long road to this debut at age three. But trainer Tom Albertrani has been scoring with some first-timers recently - Belle of the Hall ($6) at GP on 4/8; Cinco de Mayo Mio ($6.40) at Tampa on 4/28; and Cocalero ($13.20) at Belmont on May 8. Steady breezes for this colt out of a Dehere half-sister to the G1 winner Virginia Rapids. Would like to do more but leaving to check out my seats for the Jets at the new stadium!! Good luck and have a great day!


Anonymous said...

NY Post Article follows, nothing new, but nice to see someone put it in writing in a newspaper instead of just rehashing self serving politicians press releases;

"If the New York Racing Association does not get an emergency loan from the state and shuts down Belmont Park, part of the blame will fall on NYRA itself -- because of its failure to counter the misinformation spread by those in the media with an anti-racing agenda that inflames public opinion.

A published report yesterday stated: "The agency that runs the state's major thoroughbred racetracks says it will close them down on June 9 unless lawmakers agree to a bailout."

Is this use of the incendiary term "bailout" just shoddy journalism, or a willful disregard for the truth?

NYRA is not an "agency" in the sense that is not run by the state. It is a private, not-for-profit corporation franchised by the state to run racing since 1955. In return for renewing that franchise in 2008, NYRA "sold" the tracks -- which have an assessed value of $1 billion -- to the state for a cash payment of $105 million and cancellation of $133 million in debt. So who bailed out whom?

Furthermore, according to Sections 2.8 and 2.9 of the franchise agreement, "NYRA and the State agree that, in the event that VLT Operations are not scheduled to commence at Aqueduct on or prior to March 31, 2009, the State and NYRA shall negotiate in good faith to provide NYRA with payments necessary to support racing operations . . . and capital expenditures."

Thus a loan to keep NYRA operating would not be a "bailout," but simply a matter of the state fulfilling its legal obligations.

The report concluded: "[NYRA] also says OTB has refused to pay some $17 million in fees it owes the tracks."

In fact, according to documents filed by New York City OTB with the federal bankruptcy court, OTB owed NYRA $17 million as of the end of April and projects another $10 million in debt by the end of August.

Since NYC OTB is now a state agency, if the state simply paid the $17 million-plus it owes NYRA, through OTB, no "bailout" loan would be needed. "

Figless said...

I like Grand Strategy in the Belmont MSW, bet to 3-2 when disappointing in debut at Spa. Has not been seen since so something went wrong to this 280k purchase (28x stud fee), returns with good works for Kieran.

May get 3-1 in short field due to highly touted competition.