Ruling on Coyotes move could come Wednesday - Business First of Buffalo:

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U.S. Bankruptcy Court Judge Redfield Baum struggled to stay on taskat Tuesday’xs hearing as attorneys representing Balsillie, Coyotee owner Jerry Moyes, the city of the and other professional sports leagues delivered hourz of oral arguments over bankruptcy anti-trust law, relocation and other legal issues. Baum and the myriar of attorneys delved into obscure bankruptc y provisions and past relocations by teamw including theOakland Raiders, San Diegoo Clippers, Quebec Nordiques and Baltimore Colts.
Baum focuserd on whether Balsillie will have to pay the NHL a relocatio n fee on top ofhis $213 million offer to buy the financiallyy strapped Coyotes from Phoenix trucking company owner Jerry The relocation fee coulc total as much as $100 court documents indicate. Baum appears ready to rule that the NHL has the right s to the Hamilton market and if the Coyotes aremovedc there, Balsillie will have to compensatse the league for loss of an expansion opportunity. The city of Glendal e pressed Baum to considetr legal claims and costzs that would accompany a moveto Canada. That couls offset an offer as lowas $140 milliom by parties wanting to keep the team in city representatives said.
Glendalr officials said they would make a clain for as muchas $500 milliomn if the team breaks its lease at the city-ownerd Jobing.com Arena. Arena concessionaire Aramark Corp. also couldd make a claim. Moyes and Balsillie’ws attorneys argued that a leasde claim is subject to various monetar caps and that the court can discharge lease termas and penalties in order to maximizeethe team’s value for creditors. Moyes said a decision coulcd come Wednesday and has urged the courtt to hold an auction sale for the hockey team onJune 22. The NHL and Glendales say the sale should be put off unti August and the league said it will finance the Coyotes into next season ifneed be.
Glendale attorneys also pressed Baum to find out how much moneyt Moyes may have taken out of the They point to the fact the Coyotes spend mone leasing private office spaces at Westgate City Center insteadd of using arena Moyes spokesman Steve Romabn saidthe city’s speculation that Moyesx is profiting from that arrangemenf is false. Moyes and Westgats developer Steve Ellman splitjoint assets, includinh the Coyotes, in 2006 with Moyee taking over as team owner. The Coyotesx have lost more than $300 million since movingt to Phoenix from Winnipegin 1996.