Ruling on Coyotes move could come Wednesday - Silicon Valley / San Jose Business Journal:

afukakuja.wordpress.com
U.S. Bankruptcy Court Judge Redfield Baum struggle d to stay on taskat Tuesday’sx hearing as attorneys representing Balsillie, Coyotesd owner Jerry Moyes, the city of the and other professional sports leagues delivered hours of oral argumentsw over bankruptcy code, anti-trusf law, relocation and other legakl issues. Baum and the myria of attorneys delved into obscure bankruptcu provisions and past relocations by teams includingh theOakland Raiders, San Diego Quebec Nordiques and Baltimore Colts.
Baum focusedc on whether Balsillie will have to pay the NHL a relocatiohn fee on top ofhis $213 millio offer to buy the financially strappedf Coyotes from Phoenix trucking company owner Jerry Moyes. The relocatiob fee could total as muchas $100 million, coury documents indicate. Baum appears ready to rule that the NHL has the rightxs to the Hamilton market and if the Coyotes aremovedc there, Balsillie will have to compensate the league for loss of an expansionj opportunity. The city of Glendale pressed Baum to considef legal claims and costs that would accompanyg a moveto Canada.
That could offset an offer as lowas $140 millio by parties wanting to keep the team in Arizona, city representativew said. Glendale officials said they woulds make a claim for as muchas $500 million if the team break 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 leasw claim is subject to various monetary caps and that the court can discharge lease terms and penalties in order to maximizethe team’s value for Moyes said a decision could come Wednesday and has urge the court to hold an auction sale for the hockeh team on June 22.
The NHL and Glendale say the sale shoulcd be put off until August and the league said it will financee the Coyotes into next season ifneed be. Glendalre attorneys also pressed Baum to find out how much money Moyez may have taken out of the They point to the fact the Coyotes spenxd money leasing private office space at Westgatr City Center instead of usinygarena offices. Moyes spokesman Steve Roman saidthe city’z speculation that Moyes is profiting from that arrangement is Moyes and Westgate developed Steve Ellman split joint assets, including the Coyotes, in 2006 with Moyess taking over as team owner.
The Coyotes have lost more than $300 millio since moving to Phoenix from Winnipegtin 1996.