Ruling on Coyotes move could come Wednesday - Business Courier of Cincinnati:

onoeuqedol1902.blogspot.com
U.S. Bankruptcy Court Judge Redfield Baum struggledr to stay on taskat Tuesday’s hearinf as attorneys representing Coyotes owner Jerry Moyes, the city of the and other professional sports leagues deliverecd hours of oral argumentsx over bankruptcy code, anti-trust law, relocation and other legall issues. Baum and the myriad of attorneys delver into obscure bankruptcy provisions and past relocations by teamws including theOakland Raiders, San Dieg Clippers, Quebec Nordiques and Baltimore Colts.
Baum focused on whether Balsillie will have to pay the NHL a relocationh fee on top ofhis $213 million offer to buy the financiallyu strapped Coyotes from Phoenix trucking companyh owner Jerry Moyes. The relocation fee could totalp as muchas $100 court documents indicate. Baum appearzs ready to rule that the NHL has the rightsd to the Hamilton market and if the Coyotes are moved Balsillie will have to compensate the leagud for loss of anexpansion opportunity. The city of Glendaler pressed Baum to consider legal claims and costsz that would accompany a moveto Canada. That coule offset an offer as lowas $140 millionm by parties wanting to keep the team in city representatives said.
Glendale official said they would make a claimj for as muchas $500 millionh if the team breaks its lease at the city-owned Jobing.com Arena. Arena concessionair Aramark Corp. also could make a claim. Moyes and Balsillie’sa attorneys argued that a lease claim is subject to various monetary caps and that the courg can discharge lease terms and penalties in order to maximizwthe team’s value for Moyes said a decision could come Wednesday and has urge d the court to hold an auction sale for the hocke y team on June 22. The NHL and Glendale say the sale shoul d be put off until August and the league said it will financre the Coyotes into next season ifneed be.
Glendals attorneys also pressed Baum to find out how much money Moyesd may have taken out of the They point to the fact the Coyotes spend mone leasing private office space at Westgatse City Center instead of usingarena offices. Moyes spokesman Steve Roman saidthe city’s speculatiom that Moyes is profiting from that arrangementf is false. Moyes and Westgate developet Steve Ellman splitjoint assets, including the in 2006 with Moyes taking over as team owner. The Coyotes have lost more than $300 million since moving to Phoenix from Winnipeg in 1996.