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NYRA To Be Target Of State Inquiry?

Published: June 22, 2011 11:00 am ET

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It has been reported that New York Budget Director Robert Megna has told the New York Racing Association that it must change its behaviour, and that he has requested an inquiry by state investigators into NYRA after the organization was secretive regarding finances and executive salaries.

An article on timesunion.com explains that Megna has threatened to pull NYRA's license to host racing at the state's Aqueduct, Belmont and Saratoga raceways for thoroughbreds

The report states that NYRA is projecting an $11 million deficit, and that on Monday, June 20 top NYRA officials refused to reveal salary information in a meeting with Megna's board.

According to the article, Megna has now twice directed NYRA to produce information in regard to salaries. The first time, NYRA reluctantly released data in February 2010 which showed compensation for administrators topped by NYRA President Charles Hayward's $460,000 in annual compensation. The report goes on to say that NYRA has raised salaries since the initial disclosure.

(With files from timesunion.com)

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