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Wednesday, December 15, 2010

T Minus Two Days?

In a Harness Racing Update Exclusive, SBOANJ President Tom Luchento has reported the biggest problem with obtaining a lease of The Meadowlands is the state's demand that a deal to lease the track be completed by Friday so they can present it to the Governor.  The assumption is if a deal is not in place by the end of Friday, the state will walk away from the negotiations.  Racing dates were supposed to be assigned today by the NJRC.  Since the Governor will not allow dates to be issued prior to an agreement is in place, that racing commission meeting has been delayed until next Wednesday, hoping an agreement will be in place.

Problem is investors who have experience running race tracks are coming in on Friday to talk with the SBOANJ and State Officials..  That gives them one day to come to an agreement under the current deadline.  Luchento thinks a deal could be accomplished if the clock is stopped but with advisor Jon Hanson involved, who knows if the clock will stop,.

Friday may be an interesting, long  day. 

1 comment:

Scott Jeffreys said...

Dear Pacingguy : For many years, New York feared the folding of NYC/OTB and the industry itself kept propping up the disease that was killing it. Despite all of the panic, NYC/OTB died. The sun still rose the next morning and some true entrepreneurial behavior has set in with that money being attracted to other horse racing wagering options (NYRA Rewards, other ADWs, on-track attendance).

Eventually, you have to cut away all of the infected flesh if the body is to heal.

Which brings me to the Meadowlands point. Over this summer, I wrote several commentaries about Chester and Pocono shredding the Meadowlands product while many were celebrating the surge in Pennsylvania purses. Well, let's push this discussion to the end.

Let's close the Meadowlands. Full stop. Close it - end the pain and the discussion. Eventually, the New Jersey climate despite Tom Luchento's actions will kill it, so why not move while the Pennsylvania and some upstate New York purses can sustain the investment to move?

Eliminate the New Jersey breeding angle for harness racing and move the product again to New York and Pennsylvania.

Now, why the extreme view? Perhaps, New Jersey will lose harness racing (including Freehold) but will understand their losses and still save Monmouth and rebuild around the Atlantic City Race Course.

Yes, this is extreme, but at some point, trying to pursuade government is like pushing a rope uphill .. there are too many kinks along the way to make the journey worth it.

Sincerely, Scott