If Eliot Spitzer decides to replace disgraced State Comptroller Alan Hevesi, picking a replacement presents its own complications. One of Spitzer’s leading choices to replace Hevesi, insiders say, is his close friend, investment banker Bill Mulrow (whom Hevesi beat in the 2002 comptroller’s primary). The Mulrow and Spitzer families are so close they vacationed together in Ireland last year. But Mulrow’s also a principal, along with George Steinbrenner’s son-in-law Steve Swindal, in Excelsior Racing Associates, which a state committee recommended last week take over New York’s lucrative horse tracks, which took in $280 million last year. But the final call is Spitzer’s. “Mulrow needs to decide which horse he’s gonna ride in this race,” mused one insider. “Spitzer’s, or gambling.” (Mulrow might also be offered the gig as Spitzer’s economic-development czar.) Another of Excelsior’s financial backers, casino developer Richard Fields, also has Spitzer ties: He pumped $200,000 into the governor-elect’s campaign. He is also under investigation by the state’s lobbying commission for flying Spitzer to campaign stops on his private jet.
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