current belmont meet-SHUTDOWN?

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  • wtf
    SBR Posting Legend
    • 08-22-08
    • 12983

    #1
    current belmont meet-SHUTDOWN?
    cannot believe I actually read this....


    NYRA calls Belmont meet in jeopardy
    By David Grening

    ELMONT, N.Y. - The New York Racing Association reiterated on Monday that if it does not receive financial assistance from the state, it will be unable to complete the Belmont Park spring/summer meet. The meet runs through July 18.

    "NYRA's current cash position will not allow us to make it through the entire Belmont Park race meet," NYRA's president and CEO, Charles Hayward, said in a press release issued late Monday afternoon. "We are in discussions with the state regarding potential avenues for us to acquire funding."

    NYRA did not address the prospects for a Saratoga meet in its one-paragraph release.

    Hayward and NYRA officials were scheduled for more talks with state officials in Albany on Tuesday. Last week, a plan that was to have advanced NYRA $17 million through a future bond for the construction of a casino at Aqueduct was scuttled because the move would violate legal restrictions on how the state can loan money.

    NYRA is owed $17 million by bankrupt New York City Off-Track Betting. Also, NYRA is not receiving any revenue from the still-stalled slots project at Aqueduct. In 2008, when the state renewed NYRA's franchise agreement, it agreed to fund NYRA's operating shortfalls in the absence of a video lottery terminal operator having been selected to run the casino at Aqueduct. But the state is in a $9 billion hole and doesn't even have a budget in place for the upcoming fiscal year.

    This comes on the heels of NYRA trying to market the $1 million Belmont Stakes on June 5 that will lack both the Kentucky Derby winner Super Saver, and the Preakness winner Lookin At Lucky.

    Though a large field is likely for the race, there is hardly a name horse in the field. As of Monday, the headline 3-year-olds were Ice Box, the Florida Derby winner who finished second in the Kentucky Derby with a troubled trip, and First Dude, who finished a game second to Lookin At Lucky in the Preakness after setting the early pace.

    Trainer Nick Zito, a New York favorite and a two-time Belmont winner and six-time Belmont runner-up, might be the main attraction. In addition to saddling Ice Box, Zito is also the trainer of Dwyer Stakes winner Fly Down. Bob Baffert, the trainer of Lookin At Lucky, is expected to run Game on Dude, the Lone Star Derby winner.

    The last time the Belmont did not have either the Kentucky Derby or Preakness winner was 2006. A crowd of 61,168 attended the race, won by Jazil. Total handle was $81.4 million.

    In 2006, grandstand admission was $5 and clubhouse admission was $10. Now, those prices are $10 and $20, respectively. Seats for the 2006 Belmont ranged in price from $40 to $300. This year, seats range in prices from $45 to $350. The most dramatic increase in the last five years is seats in the preferred grandstand that were $100 in 2006 now cost $120.
  • Reload
    SBR Posting Legend
    • 03-23-08
    • 12249

    #2
    Not surprising to see them in trouble. Hope it can get worked out.
    Comment
    • floridagolfer
      SBR MVP
      • 12-19-08
      • 2757

      #3
      To skew the line from Shakespeare, the first thing we need to do is kill all the politicians.

      What a mess. I hope for the best but I fear the worst.
      Comment
      • 3PtShooter
        SBR MVP
        • 04-13-08
        • 3936

        #4
        wow
        Comment
        • pavyracer
          SBR Aristocracy
          • 04-12-07
          • 82782

          #5
          It's called capitalism. Businesses go belly up if not run effectively.
          Comment
          • 13th Inning
            SBR Wise Guy
            • 08-05-08
            • 878

            #6
            Those fuks better not cancel Saratoga. I won't be responsible for my actions at that point...

            If they shut down Belmont early, or worst case scenario, call off the Saratoga meet also, where would the horses/jocks go this summer? Monmouth will have that big money meet going on, but it's short and they probably couldn't accommodate the entire horse/jock population from New York, anyway. Maybe Suffolk/Finger Lakes/Delaware would also be options, but those are certainly a step down from New York racing.
            Comment
            • 13th Inning
              SBR Wise Guy
              • 08-05-08
              • 878

              #7
              Oh, Philadelphia would probably be a likely destination, with the slot-inflated purses. Now that I think of it, that would probably be the most favored option for everyone, outside of Monmouth.
              Comment
              • ehp6737
                SBR MVP
                • 12-11-08
                • 4185

                #8
                thats a shame
                Comment
                • JUST A MAN
                  SBR Sharp
                  • 04-22-10
                  • 276

                  #9
                  Where is all the money? These tracks are saying,"without slots, we would be out of business". This is crap.

                  Belmont handles 6 million a day. Take 20% thats 1.2 million.

                  Then they have about 300k in purses.

                  Where is the rest?

                  Fuccking thieves.
                  Comment
                  • DrunkHorseplayer
                    SBR Hall of Famer
                    • 05-15-10
                    • 7719

                    #10
                    There are way too many horse tracks running; sooner or later, some of them need to go.
                    Comment
                    • mtneer1212
                      SBR MVP
                      • 06-22-08
                      • 4993

                      #11
                      Just a publicity stunt boys......... It's Belmont time, so now is the only leverage NYRA has to get NY state to pony up. Long term, there are questions, but this year is not in doubt.
                      Comment
                      • wtf
                        SBR Posting Legend
                        • 08-22-08
                        • 12983

                        #12
                        this is the worst belmont meet i have ever seen since i have been walking on this earth

                        the fields are atrocious , monmouth is going to make it even worse

                        maybe they should consider racing three days a week
                        Comment
                        • mtneer1212
                          SBR MVP
                          • 06-22-08
                          • 4993

                          #13
                          Monmouth will hurt Saratoga this year too........ Monmouth is racing three days a week, $1mil in purses EVERY DAY -- that will take some horses from Saratoga.
                          Comment
                          • wtf
                            SBR Posting Legend
                            • 08-22-08
                            • 12983

                            #14
                            i believe this monmouth meet will open the eyes of other tracks and they will adopt similar tactics

                            look for some juicy dividends , every race will be packed to the gills
                            Comment
                            • floridagolfer
                              SBR MVP
                              • 12-19-08
                              • 2757

                              #15
                              Originally posted by mtneer1212
                              Just a publicity stunt boys......... It's Belmont time, so now is the only leverage NYRA has to get NY state to pony up. Long term, there are questions, but this year is not in doubt.

                              I'm not so sure about this. The state of New York is looking at a deficit of about $9 billion. Yes, NYRA needs to learn how to properly get its own house in order, but if it goes to the state looking for a handout, there's simply not enough money to go around.
                              Comment
                              • konck
                                SBR Posting Legend
                                • 10-17-06
                                • 12554

                                #16
                                If this is happening some one is stealing for sure ...check the CEO pockets
                                Comment
                                • jjgold
                                  SBR Aristocracy
                                  • 07-20-05
                                  • 388179

                                  #17
                                  They need to privatize it and I think NY racing will be ok.
                                  Comment
                                  • The General
                                    SBR Posting Legend
                                    • 08-10-05
                                    • 13279

                                    #18
                                    I think what you see is corporate people and/or businesses grabbing all they can grab before the ship sinks for good. Without a bailout, Belmont is in big trouble as is horse racing around the country. It has been hurting for years and it is not going to get better IMO because there is no interest strong enough to keep it afloat. Casinos are the attraction for local gamblers now along with Internet wagering instead of traveling for a day at the track and even when horse racing was the thing it wasn't that great. In a decade the landscape of horse racing will be so much different than it is and especially was 20 years ago. Horse racing had a nice run for a long time, but it is faltering very much. I have no clue what could happen that would bring a huge draw to the ponies now.
                                    Comment
                                    • big joe 1212
                                      SBR Posting Legend
                                      • 06-01-08
                                      • 19380

                                      #19
                                      They announced today that racing will continue through the Saratoga season.
                                      Comment
                                      • turfnsport
                                        SBR Hustler
                                        • 08-28-08
                                        • 83

                                        #20
                                        It's not going to happen Patterson is going to step in and loan NYRA the money. He probably has it under his mattress.
                                        Comment
                                        • Grandmaster B
                                          SBR Hall of Famer
                                          • 09-05-09
                                          • 6035

                                          #21
                                          people are tired of betting on crooked jockeys and crooked trainers

                                          I dont blame them

                                          let it die
                                          Comment
                                          • mtneer1212
                                            SBR MVP
                                            • 06-22-08
                                            • 4993

                                            #22
                                            Here are the details of the upcoming Monmouth experiment...... looks good!

                                            Monmouth Park unveils details of 'Million Dollar Meet'

                                            By Tom Luicci/The Star-Ledger

                                            May 18, 2010, 3:40PM

                                            John Munson/The Star-LedgerMonmouth Park's adjustments in its racing schedule this season have already drawn some of the country's best trainers to the Shore.Monmouth Park's "Million Dollar Meet," one in which the track will award $50 million in purses over a reduced 50 days of racing, gets underway on Saturday -- and the entire thoroughbred racing industry will be watching.
                                            The innovative approach, designed to increase attendance and handle in a sport that has been in steady decline in both areas, is expected to turn the national spotlight on the Shore track this summer.
                                            Monmouth officials held a press conference on today to begin the push for a thoroughbred meet that will offer the highest daily average handle in the country. More money means bigger-name trainers and jockeys and bigger fields, which should result in more fan interest and increased wagering. At least that's the theory.
                                            Some of the highlights to come out of the press conference:

                                            -- Top jockeys Garrett Gomez and John Velazquez have committed to ride during the meet -- even when Saratoga opens in late July. Gomez, who was in attendance at the press conference, makes no apologies for why he will spend the summer at Monmouth. "It's where the money is," he said.


                                            -- California-based trainers Mike Mitchell, Robert Hess, Peter Miller and Mike Machowsky, who trained Preakness starter Caracortado, are sending strings East to Monmouth for the first time.

                                            -- Todd Pletcher, trainer of Kentucky Derby winner Super Saver and a two-time Haskell Invitational winner, will have the maximum 36 stalls and has six horses entered on opening day. Kiaran McLaughlin, Steve Asmussen, Richard Violette, Michael Trombetta, Dick Small and Mike Maker are among the other marquee trainers who will call Monmouth home for the summer.

                                            -- To encourage more owners and trainers to enter races, Monmouth is paying $1,500 to every starter from fifth place to last. The winner's share has been cut from 60 to 55 percent, but that is more than offset by the higher purse structure. Second is worth 20 percent, third 10 percent and fourth five percent. Monmouth paid finishers from fifth on down to last place one percent of the purse last year. So a $15,000 purse produced guarantees of just $150 for finishing fifth through last in 2009. It is 10 times that this year.

                                            -- Though the purses will average $1 million per day, it doesn't necessarily mean every day will offer $1 million in purses. Some days will be slightly less, some slightly more. (Monmouth averaged $332,672 in daily purses a year ago.)
                                            The track is offering $12.1 million in stakes purses -- compared to $4 million last summer.

                                            -- When the track goes to its Friday through Sunday schedule starting in June, there will be at least 36 races over the weekends. Monmouth is racing Saturday and Sunday this week and Saturday through Monday on Memorial Day weekend next week.

                                            -- TVG will be at Monmouth to televise every live race this summer, with the track having built a new platform in the winner's circle where the broadcasts will originate from.

                                            -- The Aug. 1 Haskell Invitational, the track's showcase race, will be televised live by ABC. TVG carried the race a year ago.

                                            -- The infield ponds have been dug deeper and moved, creating a considerable landscaping mess surrounding the main tote board. The main pond, which was on the left side of the infield, has been shifted to the right side to solve the drainage issues. The infield landscape has been replanted for the first time since it opened in 1946. But it's mostly dirt now, with the grass having not yet grown in.

                                            -- Monmouth will experiment with "twilight" post-times of 2:10 p.m. for three Fridays in July (the 9th, 16th and 23rd). Otherwise, post-time will again be 12:50 p.m.
                                            Comment
                                            • big joe 1212
                                              SBR Posting Legend
                                              • 06-01-08
                                              • 19380

                                              #23
                                              Saratoga will still do just fine. Most people who go to Saratoga don't care about the quality of the horses. The handle won't lose that much and with the Stake purses that Saratoga offers on the weekends, they will get enough quality horses and jockeys coming in.
                                              Comment
                                              • madmaxx
                                                SBR MVP
                                                • 03-14-07
                                                • 3289

                                                #24
                                                I was wondering why David Cohen was riding at Delaware today
                                                Comment
                                                • wtf
                                                  SBR Posting Legend
                                                  • 08-22-08
                                                  • 12983

                                                  #25
                                                  racing will not die

                                                  it needs consolidation, admittedly the base has dwindled but the demand is always there

                                                  i live next to macau and there are two race meeting a week and they are packed with 30k people with massive handles, but there is huge confidence in the product and strictly regulated-maybe two factors missing in usa racing
                                                  Comment
                                                  • wtt0315
                                                    SBR Hall of Famer
                                                    • 01-18-07
                                                    • 8037

                                                    #26
                                                    yeah just needs a reformation
                                                    Comment
                                                    • robmpink
                                                      SBR Posting Legend
                                                      • 01-09-07
                                                      • 13205

                                                      #27
                                                      nyra is a joke
                                                      Comment
                                                      • JUST A MAN
                                                        SBR Sharp
                                                        • 04-22-10
                                                        • 276

                                                        #28
                                                        Originally posted by madmaxx
                                                        I was wondering why David Cohen was riding at Delaware today
                                                        That is where he should be.
                                                        Comment
                                                        • pete346
                                                          SBR High Roller
                                                          • 04-09-09
                                                          • 234

                                                          #29
                                                          hopefully things can be worked out and they will have a full meeting at Belmont
                                                          Comment
                                                          • Brock Landers
                                                            SBR Aristocracy
                                                            • 06-30-08
                                                            • 45359

                                                            #30
                                                            they shut down Arlington for a summer, was terrible. Place is a fukking palace and it sat empty
                                                            Comment
                                                            • statnerds
                                                              SBR MVP
                                                              • 09-23-09
                                                              • 4047

                                                              #31
                                                              Originally posted by pavyracer
                                                              It's called capitalism. Businesses go belly up if not run effectively.
                                                              just another example of why government can't run a business. straight into the fukkin ground. privatize that shit.

                                                              unionized?
                                                              Comment
                                                              • Reload
                                                                SBR Posting Legend
                                                                • 03-23-08
                                                                • 12249

                                                                #32
                                                                Hope they can still have the guaranteed Pick 4's

                                                                Comment
                                                                • jai7123
                                                                  SBR High Roller
                                                                  • 01-04-10
                                                                  • 101

                                                                  #33
                                                                  I heard OTB (one of them) one of them went bust and owes NYRA over a 100 million.

                                                                  How the hell does OTB lose money? They rob every winning ticket of 5 percent (plus depending on how the numbers break down).
                                                                  I remember on track price on a chalk could be $4.20, OTB pays $3.80 since 5 percent was more than 20 cents they go down the next increment of 20 cents. I think this might have changed in increments but geez.
                                                                  Comment
                                                                  • jjgold
                                                                    SBR Aristocracy
                                                                    • 07-20-05
                                                                    • 388179

                                                                    #34
                                                                    NY Racing was best in world for a long time, hopefully it will come back.
                                                                    Comment
                                                                    • mproud1
                                                                      Restricted User
                                                                      • 06-19-09
                                                                      • 569

                                                                      #35
                                                                      good trainers/horses are at Delaware right now
                                                                      Comment
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