With leading promoters intending to sever ties, management company MTK has announced that it will cease operations:
THE impact of the United States Treasury department sanctioning Daniel Kinahan continues to reverberate through boxing.
The US government designated Kinahan a leading figure in an organized crime group last week. Figures in boxing that once praised him have been distancing themselves from a man who also operated as an advisor to a number of fighters. On Wednesday MTK Global, the management company which Kinahan: [pictured, centre, with MTK boxers Jono Carroll, left, and Rocky Fielding, right] founded but which in 2017 insisted he had left, announced that it would cease operations.
The company issued a statement saying: “As a business we have faced unprecedented levels of unfair scrutiny and criticism since the sanctioning by the US Government of Daniel Joseph Kinahan.
“It’s a matter of public record that Mr Kinahan’s involvement in MTK ceased in 2017, and despite repeated reassurances in this regard, unfounded allegations about his ongoing association with us and our fighters persist.
“Since leading promoters have now informed us that they will be severing all ties with MTK and will no longer work with our fighters, we have taken the difficult decision to cease operations at the end of this month.
“MTK prospered because we always put the long term interests of our fighters at the heart of what we do. Our priority in the weeks ahead will be to ensure that our world class boxers are supported to find new partnerships as swiftly as possible.
MTK gyms are operated independently so will remain open for the foreseeable future. Further announcements will be made in due course. ”
Only the previous day Bob Yalen had stepped down as the CEO of MTK Global, citing personal reasons. Then he said, “I am incredibly proud of the success of MTK Global and I feel privileged to have served as President and CEO since 2018.
“However, the pressure of the last few weeks has been particularly intense. I need to consider the impact on myself and my family. So after four years leading MTK, I think it’s time for me to step aside to take on new challenges. “
Read further reaction to the sanctioning of Daniel Kinahan: here:.