Excelsior leading in race for tracks

Following a 6-hour public hearing last week, an advisory committee on the Future of Racing appointed to evaluate bid proposals recommended that Excelsior Racing Associates, LLC, take control of the State's thoroughbred racing franchise when the current franchise expires on December 31, 2007.
The nine-members of the Ad-Hoc Committee on the Future of Racing convened on Tuesday, November 21 at Saratoga Springs State Park to weigh the proposals submitted by Excelsior, Empire Racing Associates, LLC, which has received endorsement from the New York Thoroughbred Horsemen's Association, and the New York Racing Association, Inc. (NYRA).
NYRA has owned and operated the state's three largest racetracks: Aqueduct, Belmont Park and Saratoga, since 1955. Plagued by financial and management woes in recent years, NYRA filed for bankruptcy protection earlier this month.
Excelsior principal Steve Swindal, who is also a general partner of the New York Yankees, hailed the decision in a statement issued last week. &#8220For the past several years, New York fans and taxpayers have been waiting for the transparency, accountability, and racing integrity they deserve. Excelsior is happy to announce that the wait is almost over.”
Despite its recommendation on behalf of Excelsior, Robert T. Williams, the committee's Executive Director, clarified that, &#8220We are simply a recommendation,” and that the ultimate decision will be made by the State Legislature following its receipt of the committee's final report. Williams said he anticipates the report will be completed by the end of this year.
The committee awarded its recommendation to Excelsior based upon a complicated scoring formula that weighed the proposals according to two grading systems in each of six categories: proposal detail; integrity and responsibility; financial viability; approach and managerial theory; experience and qualification; and lease payment.
While Excelsior ranked in first or second place in five of the six categories to narrowly beat Empire for the committee's recommendation, it was ranked third in the experience and qualification category behind NYRA. Although NYRA ranked third in every other category, Williams said that it received the higher ranking based upon its decades of experience in running the franchise.
In response to the committee's decision, NYRA President Charles Hayward noted in a statement released last week that it was, &#8220One step in a process that involves the State Assembly, the State Senate, the Governor, and the Racing and Wagering Board.” He added, &#8220We are certain that state officials will study the bids submitted and seek independent verification of any franchise candidate’s suitability to conduct racing in New York before any final recommendation or action is taken. When all the facts are evaluated, we are confident NYRA will be the obvious choice to continue to produce the best thoroughbred racing in the United States.”