NY racing chief confident NYRA on right track; $25M state loan providing much-needed boost

NY racing chief confident NYRA on right track

ALBANY, N.Y. — With a fresh infusion of state funding for the New York Racing Association, the chairman of the organization says he’s confident NYRA’s financial problems are over as the lucrative Saratoga racing season approaches.

NYRA President and chief executive Charlie Hayward and other racing officials were in Albany on Monday to preview Saratoga Race Course’s 142nd meet, which opens July 23 and runs through Sept. 6.

There were concerns that Saratoga’s season could be in jeopardy because of NYRA’s financial woes. But the Legislature approved a $25 million loan late last month to keep Saratoga and NYRA’s downstate tracks, Aqueduct and Belmont, open.

Hayward had said NYRA was running out of money and hinted of an unprecedented shutdown unless the state came through with a loan.