Boxing promotion MTK Global shuts down after sanctions on co-founder and alleged mob boss Daniel Kinahan

BOXING promotions company MTK Global has SHUT DOWN after former co-founder and alleged mob Daniel Kinahan was sanctioned, according to reports.

The former advisor to Tyson Fury was named as the head of the Kinahan Cartel by the US Government recently.

The Cartel was accused of sourcing and selling “large quantities of cocaine from South America” across the globe.

And now, MTK Global – which currently looks after 200 fighters – have announced they have ceased their operations.

A statement read: “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 is 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.

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“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.

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“Further announcements will be made in due course. Thank you to all the fans who have supported us over the last decade.”

Irishman Kinahan, 44, co-founded the business in 2012 before allegedly severing ties in 2017.

However, Fury’s US promoter Bob Arum last week claimed Kinahan – who has no criminal convictions – was “100 per cent” still involved in the running of MTK Global.

Arum claimed he paid Kinahan – whom Fury publicly thanked for helping broker a two-fight deal with Anthony Joshua – close to £3million to help secure four fights between 2019-2021 and before the imposition of US sanctions on Kinahan.

CEO Bob Yalen resigned on Tuesday due to “the pressure” from the US Government.

This was not the first time MTK Global has been placed under intense scrutiny.

The business was previously probed in 2018 after the Irish High Court named Kinahan as head of the Kinahan Cartel.

Meanwhile, Fury has claimed he has “nothing to hide” amid regarding his relationship with Kinahan.

Despite still being listed on MTK Global’s website, Fury insists he’s had nothing to do with the promotions company since 2020.

“NOTHING TO HIDE”

The Gypsy King, 32, was snapped with the now-sanctioned Irishman in Dubai in February, but insisted: “Because I had my picture taken with a man it doesn’t make me a criminal.

“I’m just a boxer. There could be a criminal in this building.

“I’ve got nothing to hide. The only time I’ve ever broken the law was when I got a speeding ticket.”

When asked about the drug allegations levelled at the Kinahans, Fury replied: “That’s none of my business and I don’t interfere with anybody else’s business.

“But I do know what the media can do. Remember, I was the one witch-hunted a few years back.

“Anyway, I’ve got enough problems of my own to worry about now.

“Like a big lump of a man wanting to punch me in the face on Saturday.

“Like my wife preferring that instead of being in training camp I was at home helping her with our six kids and taking out the rubbish bins, which is what I’ll be back doing on Sunday morning after this fight.”

Fury said of their professional relationship: “That only lasted from 2017 to 2020. Since then nothing. Nada.”

Source: Soccer - thesun.co.uk