New York thoroughbred racing chief meets goals, gets $250K bonus a year after taking job

MarketsAssociated Press

The head of the New York Racing Association is getting a $250,000 bonus a year after taking over the state-controlled operator of three thoroughbred tracks.

NYRA's (NYE'-ruhz) board of directors was told about the bonus for president and CEO Chris Kay during Wednesday's meeting in Saratoga Springs, where the Saratoga Race Course's 146th season is underway.

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Board members say Kay met the objectives set when he was hired to lead the financially troubled NYRA after Gov. Andrew Cuomo took away its power and created a temporary board to run thoroughbred racing at the Saratoga, Belmont and Aqueduct tracks.

Kay started at NYRA July 1, 2013. His base salary is $300,000.

NYRA's previous top executive, Charles Hayward, was fired in 2012 amid an investigation into why $8.5 million in winnings wasn't paid to bettors.