Bailout deal in the works, but NYRA still warns workers they could face layoffs in June

Bailout in the works, but NYRA warns of layoffs

ALBANY, N.Y. — A deal is in the works to save the thoroughbred racing season in New York. The New York Racing Association, however, is still warning employees they could face layoffs as early as June 9 if it has to shut down.

NYRA says the legally required advance notice went out to more than 1,400 workers as the cash-strapped racing operator said it might have to close the Belmont, Aqueduct and Saratoga tracks after the Belmont Stakes.

Gov. David Paterson said Tuesday he expects the Legislature to approve a loan of $15 million to $25 million to keep NYRA operating. Lawmakers return to session next week.

The Belmont meet ends July 18. Racing then shifts upstate to the lucrative Saratoga session from July 23-Sept. 6.