The New York Racing Association on Friday received an $8 million loan from the state comptroller's office in order to continue to fund its operations while it reorganizes under Chapter 11 bankruptcy protection, a NYRA official said on Friday.

LEXINGTON, Ky. - Last year, the market for young broodmares and broodmare prospects reached a world-record peak when Sheikh Mohammed al-Maktoum of Darley Stable paid $9 million for champion Ashado.

Keeneland officials - and sellers of the 2006 Keeneland November mixed sale catalog's most accomplished mares - are hoping the climate stays that hot this year. The Keeneland sale opens on Monday and runs through Nov. 19, with sessions beginning daily at 10 a.m. And, once again, the catalog's mares will be attracting special attention.

The New York Racing Association, the nonprofit operator of Aqueduct, Belmont, and Saratoga, filed for bankruptcy protection on Thursday in United States Bankruptcy Court for the Southern District of New York, the association announced Thursday evening.

LEXINGTON, Ky. - Kentucky Derby winner Barbaro could have his cast removed permanently as early as next week, according to his surgeon, Dr. Dean Richardson.

Richardson told reporters at the National Turf Writers Association's annual pre-Breeders' Cup awards dinner Wednesday night that the colt is progressing well but "still has a long way to go," according to an Associated Press report.

"We took X-rays of his right hind leg today, and we're probably going to be removing his cast permanently next week," Richardson said.

Magna Entertainment Corp., the racetrack owner and operator, lost $50.7 million in the third quarter of 2006 on revenue of $113.7 million, according to financial statements released Thursday.

The third-quarter results compared with a loss of $34.5 million in the third quarter of last year on revenue of $78.8 million. In the third-quarter this year, operating costs and interest expense were up sharply from the third quarter last year.

LEXINGTON, Ky. - An audit of the Kentucky Thoroughbred Development Fund has uncovered serious problems in the owners' awards program that will likely result in the revamping of the program, Kentucky racing officials said this week.

The audit was conducted earlier this year by the Kentucky Horse Racing Authority. Lisa Underwood, the executive director of the authority, declined on Tuesday to discuss details of the audit, but said the authority is in negotiations with racing officials at Kentucky's tracks to redesign the program.

LEXINGTON, Ky. - An audit of the Kentucky Thoroughbred Development Fund has uncovered serious problems in the owners' awards program that will likely result in the revamping of the program, Kentucky racing officials said this week.

The audit was conducted earlier this year by the Kentucky Horse Racing Authority. Lisa Underwood, the executive director of the authority, declined on Tuesday to discuss details of the audit, but said the authority is in negotiations with racing officials at Kentucky's tracks to redesign the program.

NEW YORK - The New York Racing Association moved a step closer to filing for bankruptcy on Monday after officials said they would reject the terms of a state oversight board's proposal to release $19 million in funds that would keep the racing association afloat through next year.

A committee evaluating the bids for the franchise held by the New York Racing Association disqualified one of the four bidders at a meeting on Thursday, a spokesman for the committee said.

The Ad Hoc Committee on the Future of Racing voted unanimously to disqualify the bid of Capital Play Pty Ltd., an Australian bookmaking company, because the company did not comply with a requirement to post a $1 million bond with its bid, according to Scott Reif, the spokesman.

ARCADIA, Calif. - After months of debate over the division of racing dates for 2007, Santa Anita and Hollywood Park were given longer race meetings than originally assigned by the California Horse Racing Board on Thursday, and Santa Anita was awarded the hotly disputed week of April 18-22.