Judge promises ruling on Coyotes

The issue of how much Jim Balsillie should pay the NHL to move the Phoenix Coyotes to Hamilton will not be the subject of another hearing in U.S. Bankruptcy Court.

Jerry Moyes

PHOENIX — The issue of how much Jim Balsillie should pay the NHL to move the Phoenix Coyotes to Hamilton will not be the subject of another hearing in U.S. Bankruptcy Court.

Judge Redfield T. Baum said Thursday that he will deal with the fee issue as part of his ruling resulting from a 61/2-hour relocation hearing held Tuesday.

Baum made the comment during a brief hearing Thursday requested by the Salt River Project utility for assurances that it would be paid for future electric service to the franchise.

Baum had indicated he might hold a separate hearing on the fee issue.

The judge said Tuesday that he believes the NHL is entitled to a fee, leading to widespread speculation of how big it might be.

The league has indicated it would seek a relocation fee as well as an indemnity fee to pay the franchises in Toronto and Buffalo for lost territory, a number that could reach hundreds of millions of dollars.

However, the court would have to determine any fee as fair.

Hamilton is just down the road from Toronto, where the Maple Leafs are considered the most valuable franchise in the NHL. Forbes magazine estimated the Maple Leafs’ worth at US$448 million. The magazine said the Coyotes are the league’s least-valuable franchise at about $142 million.

Baum has made it clear that a franchise in Hamilton is more valuable than a franchise in Arizona.

Balsillie, billionaire co-CEO of BlackBerry maker Research In Motion, is offering $212.5 million for the Coyotes, contingent on moving the team. Any fee to the league would be separate from that offer.

Just when Baum will rule on the crucial relocation issue was uncertain. Lawyers for Coyotes owner Jerry Moyes filed an emergency motion Thursday seeking a hearing on the assumption of the contracts of 50 Phoenix players.

“It is absolutely imperative that the proposed sale, or a transaction with another party, close as soon as possible,” the motion said.

Moyes want the contract assumption hearing to be held June 22, the same day Balsillie wants to get an order from the judge allowing him to purchase the team.

Baum said Tuesday he might go along with the June 22 purchase date to force the NHL to come up with a figure for the relocation fee.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Red Deer man arrested for break and enters in Innisfail

Innisfail RCMP thank public for their help

WATCH: Update from Prime Minister Trudeau

April 6 briefing from Ottawa

Application process for emergency benefits for workers begins this morning

OTTAWA — Applications open today for the new federal emergency aid benefit… Continue reading

Work camp operator filling need for COVID-19 field hospitals, testing centres

CALGARY — A Calgary company says it has received more than 100… Continue reading

WATCH: Red Deer emergency call centre hours change starting next week

Hours at the City of Red Deer’s COVID-19 emergency call centre will… Continue reading

Alberta Health Services provides COVID-19 prevention tips

Alberta Health Services has a number of recommendations for people amid the… Continue reading

Alberta government website has latest COVID-19 statistics

Red Deer Advocate readers can stay up to date on the COVID-19… Continue reading

Opinion: Once again, the Queen leads while others let us down

“We will meet again.” Queen Elizabeth channelled her inner Vera Lynn on… Continue reading

Powell hopes to compete for Canada after promising NBA season cut short

Dwight Powell was enjoying a season unlike any other. His Dallas Mavericks… Continue reading

Raptors coach Nurse ‘100 per cent’ committed to Canada’s push for Olympic spot

TORONTO — Three weeks into global basketball’s shutdown, Nick Nurse isn’t just… Continue reading

Montreal’s Just for Laughs Festival postponed to fall, Jazz Festival cancelled

Montreal’s renowned Just for Laughs Festival has been pushed to the fall… Continue reading

Queen delivers message of hope to UK amid virus outbreak

Britain needed a message of hope Sunday. The queen delivered it. Queen… Continue reading

Quebec Walmart worker struck by driver allegedly angered by COVID-19 measures

SHERBROOKE, Que. — A Walmart security guard from southern Quebec was fighting… Continue reading

Most Read