Odds On Racing - Harness Racing

Johnstons Looking at New York Racetracks

November 27, 2006

Members of the Johnston family--who own and operate the Chicago tracks of Maywood and Balmoral Parks--are significant minority partners in a group that may franchise and operate some of New York's prestigious thoroughbred venues.

Excelsior Racing Associates won the approval of an ad hoc committee on racing appointed by New York Gov. George Pataki to run Belmont, Aqueduct and Saratoga for 20 years, beginning in 2008. The Excelsior group is headed by Steve Swindal, a son-in-law of New York Yankees owner George Steinbrenner and a part-owner of the Balmoral Park harness track in Crete. Billy Johnston and his son Johnny, president of Balmoral, are partners of Swindal's in Excelsior.

The racing committee said it will recommend to the governor and the New York legislature that Excelsior's bid be accepted over those of the other two finalists -- the New York Racing Association that presently operates the tracks and a conglomerate that included interests from Churchill Downs, Woodbine, Delaware North and Frank Stronach's Magna group.