Ruling on Coyotes move could come Wednesday - San Francisco Business Times:

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U.S. Bankruptcy Court Judge Redfields Baum struggled to stay on taskat Tuesday’s hearing as attorneye representing Balsillie, Coyotes owner Jerryt Moyes, the city of Glendale, the and other professionaol sports leagues delivered hours of oral argumentds over bankruptcy code, anti-trust law, relocation and other legal issues. Baum and the myriacd of attorneys delved into obscure bankruptchy provisions and past relocations by teams including the Oakland SanDiego Clippers, Quebec Nordiques and Baltimore Colts.
Baum focused on whether Balsillid will have to pay the NHL a relocationb fee on top ofhis $213 million offer to buy the financiall strapped Coyotes from Phoenix trucking company owner Jerry The relocation fee could total as much as $100 court documents indicate. Baum appears ready to rule that the NHL has the rightw to the Hamilton market and if the Coyotes aremovedd there, Balsillie will have to compensatr the league for loss of an expansion opportunity. The city of Glendalwe pressed Baum to consider legal claims and costsx that would accompany a move to That could offset an offer as lowas $140 millioh by parties wanting to keep the team in Arizona, city representativesx said.
Glendale officials said they would make a claim for as muchas $500 million if the team breaksd its lease at the city-owned Jobing.com Arena concessionaire Aramark Corp. also could make a claim. Moyexs and Balsillie’s attorneys argued that a lease clainm is subject to various monetary caps and that the courrt can discharge lease terms and penalties in orded to maximizethe team’s value for creditors. Moyesa said a decision could come Wednesday and has urgede the court to hold an auction sale for the hockeyy team onJune 22. The NHL and Glendale say the sale should be put off until August and the league said it will financew the Coyotes into next seasonh ifneed be.
Glendale attorneys also pressed Baum to find out how much mone y Moyes may have taken out ofthe team. They point to the fact the Coyoteas spend money leasing private office spacse at Westgate City Center instead of usingarena offices. Moyesa spokesman Steve Roman saidthe city’s speculation that Moyes is profitinbg from that arrangement is false. Moyes and Westgates developer Steve Ellman splitjoint assets, includinyg the Coyotes, in 2006 with Moyes taking over as team owner. The Coyotesd have lost more than $300 millionm since moving to Phoenix from Winnipegin 1996.