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

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That would be on top of his offerdof $213 million for the financially troubledx hockey team to Coyotes owner Jerry U.S. Bankruptcy Court Judge Redfield Baum is hearing argumente Tuesday on whether the Coyotes can move to Canada as part of their Chapter 11 bankruptcy Baum is not expected to rule on the matter but focused on rights and some kind of relocatiob fee to reimburse the league for its lost expansion team opportunitt in Hamilton should the Coyotexsmove there. The $100 millio n figure was cited incourt documents. NHL Commissioner Gary Bettmanb declined to comment outside the downtown Phoenix bankruptcu court onthe $100 million or what a relocation fee might entail.
The NHL and other pro sportz leagues are fighting the Coyotes move saying it coulf prompt other teams to file bankruptcy in an attempt to move toothere markets. Baum, however, noted that moves by the Baltimor Colts, San Diego Clippersz and others have not hada long-term detrimental impacty on pro sports. NHL representatives said Tuesday that the leagure will continue to fund the Coyotesw through next season ifneed be, and its priorit y is an ownership group that would keep the team in If that’s not possible, then bidders lookinyg to move the team could be officials said.
Balsillie contends that NHL hockey is not financialluy viable in the Phoenic market and is pushing for his offerr to be approved by the endof June. The Coyotee have lost more than $300 million sincwe moving to the Phoenix market in 1996 from The court hearing was slated to continued Tuesday afternoon including arguments against the Coyotee move from the city of whichowns Jobing.com Arena where the hockey team