Troubles in Holy Land Hardball

by Sportsbiz

Ambassador Daniel Kurtzer, who is the Commissioner of the IBL, along with nine members of the IBL advisory board have resigned, charging the founder of the league with mismanagement and a failure to provide the necessary capital to maintain the league. The group also charged that players, managers and umpires had not been paid. The resignations may have been triggered by a lawsuit filed in federal court in Massachusetts charging league founder Larry Baras with fraud, securities fraud and breach of fiduciary duty in connection with the operation of the league. The IBL defense, as noted in the Times article is that it hasn't completed its financials yet, some three months after the end of the season. However, it is attempting to raise money to salvage the league but without financials? That doesn't seem to add up, does it?