New York State Extends NYRA Board Terms

The terms of some key members of the New York State Racing Association will be extended to help keep continuity of leadership in place as the racing corporation looks to complete its ambitious rebuilding of Belmont Park. The authority to retain some members in place beyond their scheduled departures next spring was included in a few paragraphs as part of a massive $254 billion new state budget for New York that was approved late last week by Gov. Kathy Hochul and Democrats who control the state Legislature. The final budget deal also sets new minimum professional experience or involvement in Thoroughbred racing for some members of the board, which supporters say will better ensure the board has Thoroughbred industry experience. NYRA is controlled by a 17-member board, the current authority for which came following the end of a five-year period that began in 2012, when the state ostensibly took control of the racing corporation following a number of scandals and organizational controversies. The governor and leaders of the two legislative houses appoint a total of six members, and one apiece is selected by the New York Thoroughbred Breeders and the New York Thoroughbred Horsemen's Association. The final board position is the NYRA president. One of the pieces of legislation that makes up the new state budget in Albany changes the expiration of the terms for the eight NYRA-appointed board positions from next spring—just before the September 2026 projected completion of the new Belmont Park—to two later periods in 2027 and 2029. The NYRA board members are chairman Marc Holliday, C. Steven Duncker, Stuart Janney III, Ogden Phipps II, Andrew Rosen, and Stuart Subotnick. Two of the NYRA-selected seats are currently vacant. Extension of the terms of those NYRA-appointed members was inserted into a final budget deal during the past couple of weeks of closed-door fiscal negotiations at the state capitol. NYRA successfully argued to state negotiators the importance of keeping its board members in place while the Belmont Park construction project advances toward conclusion. "The NYRA board of directors is deeply involved with the ongoing Belmont Park redevelopment and has vast expertise in the planning and construction of multi-faceted capital projects such as this. These updates to racing law provide NYRA and the state with continuity of board membership through the completion of the new Belmont Park and transition of all Thoroughbred racing downstate to one world-class venue,'' said Patrick McKenna, a NYRA spokesman. In 2023, the state approved a $455 million borrowing program for the NYRA Belmont project in return, in part, for NYRA agreeing to end racing at Aqueduct Racetrack once the Belmont project is completed. The state has not decided yet on the future development options for the prime parcel of land upon which Aqueduct sits. The new budget includes another provision tucked away in one bill that affects the future composition of the NYRA board. The final fiscal deal states that the members appointed by the state and those members tapped by the NYRA executive board to the racing corporation's board of trustees must satisfy at least one of four requirements. As of January 1, 2026, those positions must be filled by individuals who in the prior three years have owned or trained horses with a cumulative average of 15 starts at New York tracks per year; or, is a breeder of record registered with the Thoroughbred Breeding and Development Fund; or, is a managing partner in a New York State-based ownership syndicated licensed with the state Gaming Commission; or, has a "cogent interest in the racing and breeding industry in the state." The budget states those requirements will not affect any members already serving on the board at the time the new provision takes effect in 2026. Tina Marie Bond, president of the New York Thoroughbred Horsemen's Association, said in a statement to BloodHorse that the provision "introduces minimal eligibility requirements for the NYRA board." Bond, who also serves on the NYRA board as the NYTHA representative, said that "having members with a significant investment in New York racing can only strengthen the board." NYRA also supports the board membership eligibility requirements. McKenna said the provision will "ensure that members continue to be actively connected with Thoroughbred racing and breeding in New York State." The changes in state law affecting the NYRA board were among a number of previously reported actions affecting the industry contained in the new budget, including a tax break for tracks, funding of a new advanced imaging and screening program at the Cornell Ruffian Equine Medical Center adjacent to Belmont, and adoption of a new penny breakage system for most winning horse wagers.