SOANY extends contract with Yonkers
July 12, 2018
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The Standardbred Owners Association of New York (SOANY) and Yonkers Racing Corporation have entered into an amendment of their current horsemen's agreement. The terms and conditions governing racing at Yonkers Raceway was just extended beyond the current expiration date of May, 2019 to May, 2021.
The July 10, 2018 agreement entitled the "First Amendment" will maintain the same number of annual race dates, as well as the current revenue stream for purses.
Joseph Faraldo, president of the SOANY said, "The SOA Board of Directors has approved the negotiation of the terms and the execution of this First Amendment. I am pleased that this process was seamless and entered into with the knowledge and consent of the Raceway's new owners, MGM Resorts International, as the same portends a good working relationship with our new partners. Hopefully, this amendment will be followed by others in numerical sequence."
Faraldo also noted that in April of this year MGM Growth Properties acquired the Hard Rock Rocksino Northfield Park outside of Cleveland, Ohio and indicated, "We may now be referring to Northfield Park as our ‘sister track' and vice versa. Coordinating post times may add some benefits to both tracks, with the racing fans the prime beneficiaries. In sum, despite the initial apprehensions expressed in some quarters, world class harness racing at the Hilltop Oval appears to have a very bright and elongated future." (SOANY)