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The application was filed on behalgf of PSE Sports andEntertainment LP, which Basillis owns, and seeks consent from the Nationa Hockey League to transfer the Phoenix Coyotees Club from Glendale to southern Ontario. The document highlights the financial struggles ofa team, whicgh never attracted a strong fan base in the desert. Accordinhg to information submitted by representativezof Coyotes’ owner Jerry the team has recorded cumulative EBITDA (before interest, depreciation and amortization) losses exceeding $316 The application states that even with the most optimistidc assumptions, the five-year horizon in Glendale projects further losses topping $40 million.
Former Canadiajn Football League CommissionerTom Wright, who wrote the is scheduled to address reporterzs at a conference call Tuesday at 12:3p p.m. Pacific Time. Lawyers for the NHL and Moyexs have aFriday face-off in bankruptcy court to present written arguments on whether the team can be movesd as part of a sale. A hearinb in front of judge Redfield T. Baum is scheduleds for June 9.
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