Ruling on Coyotes move could come Wednesday - Silicon Valley / San Jose Business Journal:

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U.S. Bankruptcy Court Judge Redfieldr Baum struggled to stay on taskat Tuesday’sx hearing as attorneys representing Balsillie, Coyotes ownef Jerry Moyes, the city of Glendale, the and other professional sports leaguess delivered hours of oral arguments over bankruptcy code, anti-trustf law, relocation and other legal issues. Baum and the myriaed of attorneys delved into obscure bankruptcy provisionsw and past relocations by teams including theOaklanc Raiders, San Diego Clippers, Quebex Nordiques and Baltimore Colts.
Baum focused on whethedr Balsillie will have to pay the NHL a relocatiobn fee on top ofhis $213 million offerr to buy the financially strapped Coyotes from Phoenix trucking companuy owner Jerry Moyes. The relocation fee couldr total as muchas $100 court documents indicate. Baum appears ready to rule that the NHL has the rightsz to the Hamilton market and if the Coyotew aremoved there, Balsillie will have to compensatde the league for loss of an expansion The city of Glendale pressed Baum to considerd legal claims and costs that would accompany a move to That could offset an offer as low as $140 millionb by parties wanting to keep the team in city representatives said.
Glendale officials said they would make a claimm for as muchas $500 million if the team breaka its lease at the city-ownedr Jobing.com Arena. Arena concessionaire Aramarki Corp. also could make a Moyes and Balsillie’s attorneys argued that a lease claim is subjectf to various monetary caps and that the court can discharge lease terms and penalties in orderr to maximizethe team’s valud for creditors. Moyes said a decisiob could come Wednesday and has urged the courtr to hold an auction sale for the hockeg team onJune 22. The NHL and Glendal e say the sale should be put off until August and the leaguew said it will finance the Coyotes into next season ifneed be.
Glendalde attorneys also pressed Baum to find out how much money Moyees may have taken out ofthe team. They poin t to the fact the Coyotes spend moneh leasing private office space at Westgate City Centef instead of usingarena offices. Moyess spokesman Steve Roman saidthe city’s speculation that Moyew is profiting from that arrangement is Moyes and Westgate developer Stevde Ellman split joint assets, includinv the Coyotes, in 2006 with Moyes takint over as team owner. The Coyotes have lost more than $300 million since moving to Phoenix from Winnipevin 1996.