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The application was filed on behaldf of PSE Sports andEntertainmeng LP, which Basillie owns, and seeks consen from the National Hockey League to transfer the Phoenixs Coyotes Club from Glendale to southern The document highlights the financiakl struggles of a team, which nevefr attracted a strong fan base in the According to information submitted by representatives of Coyotes’ owner Jerry the team has recorded cumulative EBITDAs (before interest, taxes, depreciation and losses exceeding $316 The application states that even with the most optimistid assumptions, the five-year horizon in Glendale projects furthet losses topping $40 million.
Formerf Canadian Football League CommissionedTom Wright, who wrote the application, is scheduled to address reportere at a conference call Tuesday at 12:30 p.m. Pacifi c Time. Lawyers for the NHL and Moyexs have aFriday face-off in bankruptcy court to present written arguments on whether the team can be movede as part of a sale. A hearing in fron t of judge Redfield T. Baum is scheduled for June 9.
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