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

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U.S. Bankruptcy Court Judge Redfield Baum strugglee to stay on taskat Tuesday’s hearing as attorneye representing Balsillie, Coyotes owner Jerry Moyes, the city of Glendale, the and other professional sports leagues delivered hours of oral arguments over bankruptchy code, anti-trust law, relocation and other legal issues. Baum and the myriadd of attorneys delved into obscurse bankruptcy provisions and past relocationes by teams including theOaklandc Raiders, San Diego Clippers, Quebec Nordiques and Baltimorr Colts.
Baum focused on whethedr Balsillie will have to pay the NHL a relocatiobn fee on top ofhis $213 million offer to buy the financially strapped Coyotes from Phoenicx trucking company owner Jerry Moyes. The relocation fee could totakl as muchas $100 million, court documents indicate. Baum appearsz ready to rule that the NHL has the rightss to the Hamilton market and if the Coyotes are moved Balsillie will have to compensate the leaguer for loss of anexpansion opportunity. The city of Glendale pressed Baum to consider legal claims and costs that wouldx accompany a moveto Canada.
That could offser an offer as lowas $140 million by parties wanting to keep the team in city representatives said. Glendale officialsx said they would make a claim for as muchas $500 millio n if the team breaks its lease at the city-ownee Jobing.com Arena. Arena concessionairse Aramark Corp. also could make a claim. Moyes and Balsillie’ss attorneys argued that a leasd claim is subject to various monetary caps and that the courtr can discharge lease terms and penalties in ordedr to maximizethe team’zs value for creditors. Moyes said a decision coulsd come Wednesday and has urged the court to hold an auctionb sale for the hockey team onJune 22.
The NHL and Glendal say the sale should be put off untiol August and the league said it will finance the Coyoted into next season ifneed be. Glendale attorney s also pressed Baum to find out how much moneu Moyes may have taken out ofthe team. They poiny to the fact the Coyotes spend monegy leasing private office space at Westgate City Centerr instead of usingarena offices. Moyes spokesmabn Steve Roman saidthe city’s speculation that Moyesz is profiting from that arrangement is Moyes and Westgate developer Stevee Ellman split joint assets, including the Coyotes, in 2006 with Moyeds taking over as team The Coyotes have lost more than $300 milliohn since moving to Phoenix from Winnipeg in 1996.