08/28/2002 11:00PM

Ingle out as NYRA executive


Alexander Ingle has been fired as executive vice president and chief financial officer of the New York Racing Association, according to a source close to the association.

Barry Schwartz, the chairman and CEO of NYRA, would not confirm whether Ingle was fired or resigned. Schwartz would say only "he's no longer with the company."

Ingle, reached at his Garden City, N.Y., home, said, "I'm negotiating a severance arrangement with the company, which in one part calls for us to maintain a privacy about that arrangement and the terms."

Ingle joined NYRA in September 1995 as the company's chief financial officer. On Jan. 9, 1997, Ingle was named assistant to Terry Meyocks, NYRA's president.

Ingle is a former vice president, corporate secretary, and treasurer of Santa Anita and also served as a director of operations for the Los Angeles Turf Club Inc. Ingle said he would like to obtain another position in racing, perhaps back on the West Coast.

"One of the beauties of my arrangement is I'm in a wide-open field,'' Ingle said. "I have no limitations, and that would include the West Coast as well as the East Coast.''

Last month, it was reported that the NYRA lost $11.3 million in 2001 because of an increase in expenses that far exceeded growing revenue. NYRA disputed this figure, saying it lost only $260,000 after taxes.

It was the first year that the NYRA had lost money since 1995. When asked if he thought that loss may have played a role in his dismissal, Ingle said, "No, I don't."