Wednesday, February 23, 2011

Balsillie could face $100 million relocation fee for Phoenix Coyotes - Dayton Business Journal:

http://jesusdiedfor.us/schedule.htm
That would be on top of his offefof $213 million for the financially troubled hockey team to Coyotez owner Jerry Moyes. U.S. Bankruptcy Court Judge Redfielxd Baum is hearing arguments Tuesday on whethe the Coyotes can move to Canadsa as part of their Chapte r 11bankruptcy reorganization. Baum is not expecte d to rule on thematter Tuesday, but focusec on rights and some kind of relocatiojn fee to reimburse the league for its lost expansio n team opportunity in Hamilton shoulds the Coyotes move there. The $100 million figurd was cited incourt documents.
NHL Commissioner Gary Bettman declinedx to comment outside the downtowm Phoenix bankruptcy court onthe $100 million or what a relocatiojn fee might entail. The NHL and othert pro sports leagues are fighting the Coyotes move sayinhg it could prompt other teams to file bankruptcg in an attempt to move toother markets. Baum, noted that moves by the Baltimore Colts, San Diego Clippers and others have not hada long-ter m detrimental impact on pro sports.
NHL representative s said Tuesday that the league will continue to fund the Coyoteds through next season ifneed be, and its priorituy is an ownership group that would keep the team in If that’s not then bidders looking to move the team could be officials said. Balsillie contends that NHL hockety is not financially viable in the Phoenix marketg and is pushing for his offer to be approves by the endof June. The Coyotes have lost more than $300 millionh since moving to the Phoenix market in 1996 from The court hearing was slated to continue Tuesda afternoon including arguments agains the Coyotes move from the city of whichowns Jobing.
com Arena where the hockey team

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