WPBL Board Member Seeks Court Intervention Over Financial Transparency
A board member of the Women’s Pro Baseball League (WPBL) is urging a Delaware court to compel the emerging league to disclose records that might reveal financial mismanagement and undisclosed familial ties.
Launching on August 1, the WPBL aims to be the most successful women’s professional baseball league since the All-American Girls Professional Baseball League ended in 1954. The current legal motion for access to books and records was filed Monday in the Delaware Court of Chancery and could affect the league’s prospects for attracting more sponsors and investors.
Mina Kim, an investor and one of the six board members of WPBL, claims the league has not provided her with “books and records reasonably related” to her duties. These records may include information on payments to a company owned by CEO Keith Stein and a potential family link between Stein and another board member.
Kim is requesting the court to mandate the production of the missing documents and to cover her legal costs. The legal filing mentioned, “WPBL has produced some responsive material, but … the production remains materially incomplete in ways that bear directly on Ms. Kim’s ability to discharge her fiduciary duties as a director.” This includes concerns about conflicts of interest, potential asset misappropriation, and undisclosed family relationships among WPBL insiders.
The WPBL responded on Monday, asserting that it has provided complete information in response to Kim’s request. “Ms. Kim’s continued attempt to escalate the litigation appears to be motivated by a personal grievance rather than a bona fide request for information,” the league stated. “All of the other board members of the WPBL are opposed to Ms. Kim’s proceedings, and stand unified in their repudiation of any allegations or assertions made by Ms. Kim.”
Kim is seeking a range of financial documents, including bank records and advisory agreements. The documentation provided thus far by the league underscores the importance of full transparency, according to the filing.
Included in the concerns is a $60,000 payment to a company reportedly owned by Stein and possibly his wife, Shauna Stein. The payment was initially described as a reimbursement for startup expenses but was later labeled as a loan from Ankeiste Limited to the WPBL. Furthermore, Shauna Stein may be related to board member Mark Prosterman, as her maiden name is Prosterman.
The filing also draws attention to “an admitted conflict of interest” involving the Dentons law firm as WPBL’s external counsel. Keith Stein and Andreas Kloppenborg, both attorneys at Dentons, serve on the league’s board of directors.
The WPBL’s inaugural season features four teams: New York, Los Angeles, Boston, and San Francisco. Despite this, all games are being played at Robin Roberts Stadium in Springfield, Illinois. The league has secured media rights deals with ESPN and the Scripps Sports Network for airing both regular-season and postseason games.
The regular season is set to conclude on September 6, with a best-of-five championship series starting on September 16.
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