Paterson, who assumed the governorship when Eliot Spitzer stepped down amid a scandal, told reporters on Wednesday
that he doesn't think New York Racing Association Inc. deserves its
25-year extension to run thoroughbred horse racing. But Paterson said
he won't try to put the breaks on the franchise agreement NYRA struck
with Spitzer while in bankruptcy.
NYRA has languished
under bankruptcy protection since Nov. 2, 2006, while state officials
opened a bidding process to award the right to operate New York's
state's Aqueduct, Belmont Park and Saratoga racetracks to another
entity. Spitzer chose NYRA over proposals made by Capital Play Inc., Empire Racing and Excelsior Racing Associates, but the debtor didn't win confirmation of its Chapter 11 plan
until April 28, primarily because of contentious negotiations with
state officials over the terms of the new franchise agreement.
Under
the plan, NYRA will relinquish its claim that it owns the racetracks in
exchange for $105 million in exit financing from the state.
Patterson, however, said the state essentially rewarded NYRA for "pretty poor performance." He then went on to try to distance himself from the deal. "I don't know if it was something that I would have done," he noted.
Still, Patterson said the state should honor the agreement, despite the change in governors. - John Blakeley
Comments
As Belmont Park prepares for the possibility of the first Triple Crown
winner since 1978, New York Gov. David Paterson threw cold water on
whatever goodwill the track's operator has engendered as it finally
prepares to exit bankruptcy protection. 
An outrage - show some mettle, Patterson - overturn the Spitzer decision. 25 years is too long to let New York racing wither and die.