If he is cut without cause by NYRA within 365 days after a change in control of NYRA, he would get the one-year severance package. Kay also gets to bill NYRA "for actual and reasonable business ...

It’s still our plans to run the Belmont stakes." Hayward said NYRA will try to further cut costs, but he noted NYRA administration went without raises in 2009 and will not have any next year.

But Daniel Toomey, a spokesman for the racing board, said NYRA did not submit the contracts until only a week ago – despite a Jan. 31 deadline for the signals to be cut off. “NYRA would have ...

Instead, NYRA cut its stakes schedule and lowered some purses to achieve a savings of $1.4 million. Among those stakes eliminated were the Peter Pan, Tom Fool, Nassau County, and the Poker.

NYRA cut nine stakes races from its schedule and slashed the purses of 50 others from $10,000 to $250,000. Stakes receiving the most significant cuts were Grade 1 staples such as the Jockey Club ...