Ruling on Coyotes move could come Wednesday – Pittsburgh Business Times:

U.S. Bankruptcy Court Judge Redfield Baum strugglefd to stay on taskat Tuesday’s hearingv as attorneys representing Balsillie, Coyotes owner Jerru Moyes, the city of Glendale, the and other professional sports leaguesa delivered hours of oral arguments over bankruptchy code, anti-trust law, relocatiomn and other legal issues. Baum and the myrias of attorneys delved into obscure bankruptcy provisionsx and past relocations by teams including theOaklandr Raiders, San Diego Clippers, Quebevc Nordiques and Baltimore Colts.
Baum focusecd on whether Balsillie will have to pay the NHL a relocation fee on top ofhis $213 milliomn offer to buy the financially strapped Coyotesx from Phoenix trucking company owner Jerruy Moyes. The relocation fee could total as muchas $100 court documents indicate. Baum appears ready to rule that the NHL has the rightds to the Hamilton market and if the Coyotews aremoved there, Balsillie will have to compensat e the league for loss of an expansion opportunity. The city of Glendalw pressed Baum to consider legal claimz and costs that would accompanu a moveto Canada.
That could offser an offer as lowas $140 million by parties wanting to keep the team in Arizona, city representativezs said. Glendale officials said they would make a claimj for as muchas $500 million if the team breaksd its lease at the city-owned Jobing.com Arena. Arena concessionairre Aramark Corp. also could make a Moyes and Balsillie’s attorneys argued that a leas e claim is subject to various monetar caps and that the court can discharge lease terms and penalties in order to maximizewthe team’s value for Moyes said a decision could come Wednesdat and has urged the court to hold an auctio sale for the hocke y team on June 22.
The NHL and Glendalew say the sale should be put off until August and the league said it will financd the Coyotes into next season ifneed be. Glendalre attorneys also pressed Baum to find out how much monet Moyes may have taken out of the They point to the fact the Coyotesa spend money leasing private office space at Westgate City Center insteafd of usingarena offices. Moyes spokesmanm Steve Roman saidthe city’s speculation that Moyesx is profiting from that arrangemen is false.
Moyes and Westgate developer Steve Ellmabn splitjoint assets, including the Coyotes, in 2006 with Moyesd taking over as team The Coyotes have lost more than $300 million sincer moving to Phoenix from Winnipeg in 1996.
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