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Thoroughbred Times

Posted: Thursday, May 15, 2008 10:28 AM

New NYRA board takes shape


by Paul Post

Senate Majority Leader Joseph L. Bruno (R-Brunswick) has tabbed a former Ad Hoc Racing Committee member as one of his picks for New York Racing Association’s reconstituted board of directors.

John Nigro was a Bruno appointee to the state Ad Hoc Committee on the Future of Racing, which in November 2006 recommended Excelsior Racing Associates as the group best suited to run New York’s Thoroughbred racetracks.

NYRA received the panel’s lowest rating, but this February was awarded a new 25-year franchise by the state Legislature.

“There were different circumstances at the time,” Nigro said, explaining the Ad Hoc Committee’s decision. “They’re [NYRA] excellent, excellent operators. It’s just that the model at the time didn’t work.”

The new franchise will allow NYRA to retain profits, which it could not previously do. Also, the organization is expected to get a major new revenue stream when video lottery terminals become operational at Aqueduct. The state is expected to name a gaming operator soon and a facility could open in late 2009.

NYRA is currently operating with a temporary extension, which expires July 13, while going through the legal steps needed to emerge from Chapter 11 protection. The new franchise, including board picks, will not become official until ratified by a federal bankruptcy court, which is expected to occur in late June.

Bruno already had named John Hendrickson, the husband of socialite and philanthropist Marylou Whitney, as his other choice for NYRA’s board. Hendrickson and Whitney own the highly successful Marylou Whitney Stables. Whitney’s horse, Birdstone, a 36-to-1 long shot, defeated Kentucky Derby (G1) and Preakness Stakes (G1) winner Smarty Jones in the 2004 Belmont Stakes (G1).

Bruno chose Hendrickson because of his racing experience, while Nigro brings a great deal of business savvy to the board. His firm, Nigro Companies, specializes in shopping center development and owns and manages several million square feet of commercial space within a 250-mile radius of Albany, New York.

Nigro has never owned Thoroughbreds, but described himself as a life-long, avid racing fan. Nigro said that his 18 months on the Ad Hoc Committee was an invaluable learning experience, exposing him to many of the industry’s most important issues, from backstretch conditions to equine medical care.

“A lot of the things that we don’t see as fans,” he said.

NYRA’s new board will have 25 members, 14 of its own choosing and 11 political appointees. Bruno and Assembly Speaker Sheldon Silver (D-Manhattan) have two picks each while Governor David Paterson has three. Paterson and Silver have not announced their choices yet.

Also, the governor must approve four other board members representing horsemen, breeders, labor, and Off Track Betting. The new board will not organize and hold its first meeting until NYRA’s permanent franchise becomes official, in late June or early July.

Paul Post is a New York-based Thoroughbred Times correspondent

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