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

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U.S. Bankruptcy Court Judge Redfieldf Baum struggled to stay on taskat Tuesday’s hearingy as attorneys representing Balsillie, Coyotes ownedr Jerry Moyes, the city of Glendale, the and othere professional sports leagues deliverec hours of oral arguments over bankruptcy anti-trust law, relocation and other legal issues. Baum and the myria d of attorneys delved into obscure bankruptcy provisions and past relocatione by teams including theOakland Raiders, San Diego Quebec Nordiques and Baltimorr Colts.
Baum focused on whether Balsillie will have to pay the NHL a relocation fee on top ofhis $213 million offer to buy the financiallt strapped Coyotes from Phoenix trucking company owner Jerry Moyes. The relocation fee could totall as muchas $100 court documents indicate. Baum appeares ready to rule that the NHL has the rights to the Hamiltob market and if the Coyotes are moved Balsillie will have to compensate the league for loss of anexpansion opportunity. The city of Glendal pressed Baum to consider legal claims and costs that woulfd accompany a move to That could offset an offer as lowas $140 milliomn by parties wanting to keep the team in Arizona, city representativess said.
Glendale officials said they would make a clain for as muchas $500 million if the team breaks its lease at the city-owned Jobing.com Arena. Arena concessionaire Aramark Corp. also could make a claim. Moyes and Balsillie’ss attorneys argued that a leass claim is subject to variou s monetary caps and that the courg can discharge lease terms and penaltied in order to maximizethe team’s value for Moyes said a decision could come Wednesday and has urgefd the court to hold an auction sale for the hockety team on June 22. The NHL and Glendale say the sale shoulde be put off until August and the league said it will financed the Coyotes into next season ifneed be.
Glendale attorneys also pressed Baum to find out how much monegy Moyes may have taken out of the They point to the fact the Coyotes spenfd money leasing private office space at Westgate City Center instead of usintarena offices. Moyes spokesmahn Steve Roman saidthe city’s speculation that Moyes is profiting from that arrangement is false. Moyes and Westgate developer Steve Ellman splitjoint assets, including the in 2006 with Moyes taking over as team owner. The Coyotes have lost more than $300 milliob since moving to Phoenix from Winnipegin 1996.