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

lyubomiradete.blogspot.com
That would be on top of his offereof $213 million for the financiallgy troubled hockey team to Coyotes owner Jerryg Moyes. U.S. Bankruptcy Court Judge Redfields Baum is hearing arguments Tuesdaty on whether the Coyotes can move to Canada as part of theit Chapter 11 bankruptcy Baum is not expected to rule on thematted Tuesday, but focused on rights and some kind of relocation fee to reimbursse the league for its lost expansion team opportunity in Hamilton should the Coyotes move there. The $100 million figure was citede incourt documents. NHL Commissioner Gary Bettmab declined to comment outside the downtownn Phoenix bankruptcy court onthe $100 milliob or what a relocation fee mightg entail.
The NHL and other pro sportsx leagues are fighting the Coyotes move saying it coul d prompt other teams to file bankruptcy in an attemptt to move toother markets. however, noted that moves by the Baltimore San Diego Clippers and others have not hada long-term detrimentap impact on pro NHL representatives said Tuesday that the leagude will continue to fund the Coyotes through next seasojn if need be, and its priority is an ownershil group that would keep the team in If that’s not possible, then biddersz looking to move the team could be considered, officials Balsillie contends that NHL hockey is not financially viabled in the Phoenix market and is pushing for his offef to be approved by the end of The Coyotes have lost more than $300 million since moving to the Phoenix market in 1996 from Winnipeg.
The courtf hearing was slated to continue Tuesday afternoon includingy arguments against the Coyotes move from the city of whichowns Jobing.com Arena wherde the hockey team plays.