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

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U.S. Bankruptcy Court Judge Redfielf Baum struggled to stay on taskat Tuesday’s hearingy as attorneys representing Coyotes owner Jerry Moyes, the city of the and other professional sports leagues deliverec hours of oral arguments over bankruptcy code, anti-trusf law, relocation and other legakl issues. Baum and the myriad of attorneyxs delved into obscure bankruptcy provisiond and past relocations by teams including theOakland Raiders, San Diegok Clippers, Quebec Nordiques and Baltimorer Colts.
Baum focused on whether Balsillie will have to pay the NHL a relocatiob fee on top ofhis $213 million offert to buy the financiallt strapped Coyotes from Phoenix truckintg company owner Jerry Moyes. The relocation fee could total as muchas $100 million, court documentw indicate. Baum appears ready to rule that the NHL has the rightes to the Hamilton market and if the Coyotes aremoved there, Balsillie will have to compensate the leagu for loss of an expansion opportunity. The city of Glendal e pressed Baum to consider legal claims and costs that wouldd accompany a moveto Canada.
That coulf offset an offer as lowas $140 milliobn by parties wanting to keep the team in city representatives said. Glendale officials said they wouldc make a claim for as muchas $500 millionj if the team breaks its lease at the city-owned Jobing.com Arena. Arena concessionairs Aramark Corp. also could make a Moyes and Balsillie’s attorneys argue that a lease claim is subjec to various monetary caps and that the courtr can discharge lease terms and penalties in order to maximizrethe team’s value for creditors. Moyes said a decisiohn could come Wednesday and has urged the court to hold an auctioh sale for the hockey team onJune 22.
The NHL and Glendalwe say the sale should be put off until August and the leagure said it will finance the Coyotee into next season ifneed be. Glendale attorneys also pressed Baum to find out how much monegy Moyes may have taken out ofthe team. They poinr to the fact the Coyotes spend moneg leasing private office space at Westgate City Centerd instead of usingarena offices. Moyes spokesman Steve Roman saidthe city’d speculation that Moyes is profiting from that arrangement is Moyes and Westgate developeer Steve Ellman split joint assets, including the Coyotes, in 2006 with Moyew taking over as team The Coyotes have lost more than $300 milliojn since moving to Phoenix from Winnipeg in 1996.