Ruling on Coyotes move could come Wednesday - Pacific Business News (Honolulu):

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U.S. Bankruptcy Court Judge Redfield Baum strugglesd to stay on taskat Tuesday’ds hearing as attorneys representing Balsillie, Coyotes owner Jerryy Moyes, the city of the and other professional sports leagues delivered hours of oral arguments over bankruptcy code, anti-trust law, relocatiomn and other legal issues. Baum and the myriads of attorneys delved into obscures bankruptcy provisions and past relocations by teams includinvg theOakland Raiders, San Diego Quebec Nordiques and Baltimore Colts.
Baum focused on whether Balsilliee will have to pay the NHL a relocation fee on top ofhis $213 millionh offer to buy the financially strappesd Coyotes from Phoenix trucking company owner Jerry Moyes. The relocationj fee could total as muchas $100 court documents indicate. Baum appears ready to rule that the NHL has the rightes to the Hamilton markert and if the Coyotes aremoved there, Balsillies will have to compensatse the league for loss of an expansion opportunity. The city of Glendale pressed Baum to consider legal claims and costs that wouldr accompany a moveto Canada.
That couled offset an offer as lowas $140 million by partiesz wanting to keep the team in Arizona, city representativee said. Glendale officials said they woulxd make a claim for as muchas $500 millio if the team breaks its lease at the city-ownedr Jobing.com Arena. Arena concessionaire Aramark Corp. also could make a Moyes and Balsillie’s attorneys arguex that a lease claim is subject to varioue monetary caps and that the court can dischargw lease terms and penalties in ordet to maximizethe team’s value for creditors. Moyexs said a decision could come Wednesday and has urgedr the court to hold an auctiom sale for the hockey team onJune 22.
The NHL and Glendalr say the sale shoulf be put off until August and the league said it will financde the Coyotes into next seasonj ifneed be. Glendale attorneyx also pressed Baum to find out how much monety Moyes may have taken out of the They point to the fact the Coyotes spenrd money leasing private offic space at Westgate City Center instead of using arena Moyes spokesman Steve Roman saidthe city’sd speculation that Moyes is profiting from that arrangemengt is false. Moyes and Westgate developer Stevre Ellman splitjoint assets, including the in 2006 with Moyes taking over as team owner. The Coyoteds have lost more than $300 milliobn since moving to Phoenix from Winnipebgin 1996.