Franchise Oversight Board

The massive-scaled, $455-million rebuild of Belmont Park that is on target to be finished by September 2026 is thus far unaffected by skyrocketing tariffs on steel and aluminum, although New York Racing Association (NYRA) executives told the New York State Franchise Oversight Board (FOB) during a Friday meeting they are being vigilant about monitoring the situation. NYRA and FOB personnel have good reason to be on high alert about concerns over potential cost overruns: On June 4, President Donald Trump doubled United States tariffs on steel and aluminum imports to...

A first-turn seating expansion at Saratoga Race Course and the addition of a 400-foot long infield horse tunnel at Belmont Park were among the improvement projects floated by New York Racing Association (NYRA) executives on Thursday. Three new backstretch dormitories at Saratoga are also on NYRA's to-do list, according to a preview of possible 2023 projects discussed at the Sep. 1 Franchise Oversight Board (FOB) meeting. The FOB represents the interests of NYRA's state-owned properties, and that board still must formally approve the projects if and when NYRA submits a...