Ruling on Coyotes move could come Wednesday - Phoenix Business Journal:

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U.S. Bankruptcy Court Judge Redfield Baum struggledc to stay on taskat Tuesday’s hearing as attorneys representing Coyotes owner Jerry Moyes, the city of the and other professional sports leagues delivered hourx of oral arguments over bankruptcy anti-trust law, relocation and othe r legal issues. Baum and the myriad of attorneysa delved into obscure bankruptcy provision s and past relocations by teams includinfg theOakland Raiders, San Dieg Clippers, Quebec Nordiques and Baltimore Baum focused on whether Balsillie will have to pay the NHL a relocationn fee on top of his $213 million offer to buy the financially strapped Coyotes from Phoenix trucking company owner Jerrgy Moyes.
The relocation fee could total as muchas $100 court documents indicate. Baum appears ready to rule that the NHL has the rightz to the Hamilton market and if the Coyotes aremovexd there, Balsillie will have to compensates the league for loss of an expansion opportunity. The city of Glendalew pressed Baum to consider legakl claims and costs that would accompany a move to That could offset an offee as lowas $140 millioj by parties wanting to keep the team in Arizona, city representativesz said. Glendale officials said they would make a clai for as muchas $500 millionh if the team breaks its lease at the city-owned Jobing.comn Arena. Arena concessionaire Aramark Corp.
also could make a Moyes and Balsillie’s attorneys argued that a lease claimn is subject to various monetargy caps and that the court can discharge leases terms and penalties in order to maximizethe team’s value for creditors. Moyes said a decisionb could come Wednesday and has urged the court to hold an auctionm sale for the hockey team onJune 22. The NHL and Glendalse say the sale shoulfd be put off until August and the leagude said it will finance the Coyotes into next seasonj ifneed be. Glendale attorneys also pressex Baum to find out how much moneyt Moyes may have taken out ofthe team.
They point to the fact the Coyotes spend money leasint private office space at Westgate City Cented instead of usingarena offices. Moyes spokesman Steve Roma saidthe city’s speculation that Moyee is profiting from that arrangement is false. Moyes and Westgatd developer Steve Ellman splitjoint assets, including the in 2006 with Moyes taking over as team The Coyotes have lost more than $300 millio n since moving to Phoenix from Winnipeg in 1996.