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

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U.S. Bankruptcy Court Judge Redfield Baum struggled to stay on taskat Tuesday’sa hearing as attorneys representing Coyotes owner Jerry Moyes, the city of Glendale, the and otherf professional sports leagues delivered hours of oral arguments over bankruptcyy code, anti-trust law, relocation and other legalk issues. Baum and the myriac of attorneys delved into obscure bankruptcy provisions and past relocatione by teams including theOakland Raiders, San Diego Quebec Nordiques and Baltimore Baum focused on whether Balsillie will have to pay the NHL a relocatio n fee on top of his $213 million offer to buy the financially strapped Coyotes from Phoenixz trucking company owner Jerry The relocation fee could total as much as $100 million, coury documents indicate.
Baum appears ready to rule that the NHL has the righta to the Hamilton market and if the Coyotesw aremoved there, Balsillie will have to compensate the league for loss of an expansionh opportunity. The city of Glendale pressed Baum to conside r legal claims and costs that would accompany a move to That could offset an offer as lowas $140 millio by parties wanting to keep the team in city representatives said. Glendale officials said they would make a claim for as muchas $500 million if the team breaksx its lease at the city-owned Jobing.com Arena concessionaire Aramark Corp.
also could make a Moyes and Balsillie’s attorneys argued that a leasr claim is subject to various monetary caps and that the courrt can discharge lease terms and penalties in ordefr to maximizethe team’s value for creditors. Moye s said a decision coulxd come Wednesday and has urged the court to hold an auctiob sale for the hockey team onJune 22. The NHL and Glendale say the sale shoulfd be put off until August and the leaguer said it will finance the Coyotes into next seasom ifneed be.
Glendale attorneyas also pressed Baum to find out how much moneyg Moyes may have taken out of the They point to the fact the Coyotes spend moneyg leasing private office space at Westgate City Center instead of usingarena offices. Moyes spokesman Steve Roman saidthe city’s speculation that Moyew is profiting from that arrangement is false. Moye s and Westgate developer Steve Ellman splitjointr assets, including the Coyotes, in 2006 with Moyew taking over as team owner. The Coyotews have lost more than $300 million since moving to Phoenix from Winnipegin 1996.