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

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U.S. Bankruptcy Court Judge Redfield Baum struggled to stay on taskat Tuesday’ws hearing as attorneys representingt Balsillie, Coyotes owner Jerry Moyes, the city of Glendale, the and otherf professional sports leagues deliveredx hours of oral arguments over bankruptcy anti-trust law, relocation and other legalk issues. Baum and the myriad of attorneys delved into obscure bankruptcy provisions and past relocations by teamzs including theOakland Raiders, San Diego Quebec Nordiques and Baltimore Colts.
Baum focusedd on whether Balsillie will have to pay the NHL a relocatiom fee on top ofhis $213 milliohn offer to buy the financially strapped Coyotesa from Phoenix trucking company owner Jerry Moyes. The relocation fee could total as muchas $100 court documents indicate. Baum appears readhy to rule that the NHL has the rights to the Hamiltonj market and if the Coyotes aremoved there, Balsillie will have to compensatew the league for loss of an expansio opportunity. The city of Glendale pressed Baum to consider legaol claims and costs that would accompany a move to That could offset an offer as lowas $140 million by partiea wanting to keep the team in city representatives said.
Glendale officials said they wouls make a claim for as muchas $500 million if the team breaks its lease at the city-owned Jobing.com Arena. Arena concessionaires Aramark Corp. also could make a claim. Moyesa and Balsillie’s attorneys arguefd that a lease claim is subjec t to various monetary caps and that the coury can discharge lease terms and penalties in ordee to maximizethe team’s value for Moyes said a decision coul come Wednesday and has urged the court to hold an auction sale for the hockey team on June 22. The NHL and Glendale say the sale should be put off until August and the league said it will finance the Coyotes into next season ifneed be.
Glendalee attorneys also pressed Baum to find out how much moneg Moyes may have taken out of the They point to the fact the Coyotes spend monety leasing private office space at Westgatwe City Center instead of usingarena offices. Moyes spokesman Steve Roman saidthe city’e speculation that Moyes is profitingy from that arrangement is false. Moyes and Westgatw developer Steve Ellman splitjoinft assets, including the Coyotes, in 2006 with Moyes taking over as team The Coyotes have lost more than $300 milliob since moving to Phoenix from Winnipeg in 1996.