Saratoga

Tools

NYRA fires CEO, top counsel as state investigates

Story Created: May 4, 2012 at 6:04 PM EDT

Story Updated: May 4, 2012 at 6:04 PM EDT

ALBANY, N.Y. (AP) - The New York Racing Association says it has fired CEO Charles Hayward and its chief counsel as the state
investigates why $8.5 million in winnings wasn't paid to bettors.

The NYRA board of directors reported the firing of Hayward and
senior vice president and general counsel Patrick Kehoe on Friday
afternoon. Hayward was paid $475,000 annually, and Kehoe was paid
$423,000.

The board says they didn't "perform their duties at a level
required by the board."

A state report says NYRA knew it shortchanged bettors by
extracting inaccurate "take out rates" from winnings and still
did nothing about it. NYRA disputes that claim.

Hayward had said the lapse was an inadvertent error.
NYRA has the state franchise to operate thoroughbred racing at
the Belmont, Aqueduct and Saratoga tracks.

What's On