04/24/2008 11:00PM

NYRA given another extension


The New York Non-Profit Racing Association Oversight Board extended the New York Racing Association's short-term operating extension to July 13 at a meeting on Friday.

The extension is the fifth granted to NYRA since the beginning of the year, when its previous long-term franchise with the state expired. NYRA has argued that the extensions are necessary in order to finalize agreements with the state that would put in place provisions of a 25-year franchise agreement passed by the state legislature on Feb. 13.

NYRA's latest short-term extension was scheduled to expire on Sunday.

NYRA is expected to appear in bankruptcy court in New York City on Monday to ask a judge to approve a reorganization plan that relies on elements of the legislation passed earlier this year, including the transfer of the deeds to its three racetracks to the state. The association filed for bankruptcy late in 2006.