The International Baseball Federation (IBAF) held an executive committee meeting in Havana, Cuba on Saturday. A number of media outlets (like Sponichi, Yomiuri) have learned that the MLB has agreed to provide the IBAF with financial support.
According to the report filed by Yomiuri, the IBAF can no longer receive subsidiary aid from the IOC since baseball is no longer an Olympic sport. That in turn has placed large financial strain on the IBAF. The MLB has stepped in and offered to provide financial support over the next 3 years (2011 - 2013). While the terms or amount have not yet been decided, it seems the MLB has suggested receiving rights to host some IBAF tournaments in exchange for the support.
The IBAF also announced today that Panama will host the 2011 IBAF Baseball World Cup. 16 teams will compete in the tournament that will begin at the end of September and end in early October. Panama City will be the primary venue for the tournament while Aguadulce, Cocle; Santiago, Veragues; and Chitre, Herrera will host Pool B games.