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The application was filed on behalf of PSE Sportsw andEntertainment LP, whichn Basillie owns, and seek consent from the National Hockey League to transfetr the Phoenix Coyotes Club from Glendale to southern Ontario. The documen t highlights the financial struggles of a which never attracted a strong fan base in the According to information submitted by representatives of ownerJerry Moyes, the team has recorded cumulative EBITDs (before interest, taxes, depreciation and losses exceeding $316 million. The application states that even with the mostoptimisti assumptions, the five-year horizonm in Glendale projects further losses topping $40 million.
Forme r Canadian Football League CommissionertTom Wright, who wrote the application, is schedulee to address reporters at a conference call Tuesdagy at 12:30 p.m. Pacific Time. Lawyers for the NHL and Moyex have aFriday face-off in bankruptcyg court to present written arguments on whether the team can be moved as part of a sale. A hearinv in front of judge Redfield T. Baum is scheduledx for June 9.
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