Ruling on Coyotes move could come Wednesday - Business Courier of Cincinnati:

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U.S. Bankruptcy Court Judge Redfield Baum struggled to stay on taskat Tuesday’w hearing as attorneys representing Balsillie, Coyotes ownee Jerry Moyes, the city of Glendale, the and other professionapl sports leagues delivered hours of oral arguments over bankruptcy anti-trust law, relocation and other legal Baum and the myriad of attorneys delved into obscure bankruptcty provisions and past relocations by teams includinf the Oakland Raiders, San Diego Quebec Nordiques and Baltimore Baum focused on whether Balsillie will have to pay the NHL a relocatiom fee on top of his $213 millionh offer to buy the financially strapped Coyoteas from Phoenix trucking company owner Jerrh Moyes.
The relocation fee coul d total as muchas $100 million, court documents Baum appears ready to rule that the NHL has the rightsx to the Hamilton market and if the Coyotes are moved there, Balsillier will have to compensate the league for loss of an expansio n opportunity. The city of Glendale pressed Baum to considerf legal claims and costs that would accompany a move to That could offset an offer as lowas $140 millionm by parties wanting to keep the team in city representatives said. Glendale officials said they would make a claij for as muchas $500 million if the team breakds its lease at the city-owned Jobing.com Arena. Arenas concessionaire Aramark Corp.
also could make a Moyes and Balsillie’s attorneys argued that a lease claimk is subject to various monetary caps and that the court can dischargr lease terms and penalties in order to maximizrthe team’s value for creditors. Moyes said a decision couldf come Wednesday and has urged the court to hold an auctionm sale for the hockey team onJune 22. The NHL and Glendalr say the sale should be put off until August and the league said it will finance the Coyotesx into next season ifneed be.
Glendale attorneys also presserd Baum to find out how much money Moyes may have taken out of the They point to the fact the Coyotexs spend money leasing private office space at Westgate City Centedr instead of usingarena offices. Moyes spokesman Steve Roman saidthe city’e speculation that Moyes is profiting from that arrangementg is false. Moyes and Westgate developefr Steve Ellman splitjoint assets, including the in 2006 with Moyezs taking over as team owner. The Coyotes have lost more than $300 milliobn since moving to Phoenid from Winnipegin 1996.