Boxing Management Company MTK Global Shuts Down over Ties to Daniel Kinahan

MTK Global is shutting down its operations because of ongoing inquiries into its connection with Daniel Kinahan.

The boxing management company said Wednesday in a statement it has "faced unprecedented levels of unfair scrutiny and criticism since the sanctioning by the U.S. government of Daniel Joseph Kinahan."

"It is a matter of public record that Mr Kinahan's involvement with MTK ceased in 2017, and despite repeated reassurances in this regard, unfounded allegations about his ongoing association with us and our fighters persist," MTK said.

On April 11, the U.S Department of the Treasury announced it was sanctioning the Kinahan Organized Crime Group (KOCG) and seven group members, including Kinahan.

Brian E. Nelson, the under secretary for terrorism and financial intelligence, alleged the KOCG "smuggles deadly narcotics, including cocaine, to Europe, and is a threat to the entire licit economy through its role in international money laundering."

MTK Global chief executive Bob Yalen responded to the news by saying the organization "will take every measure to ensure the company and those who deal with it are fully compliant with the U.S. sanctions announced this week and take this matter extremely seriously."

Yalen subsequently resigned Tuesday.

ESPN noted that Kinahan founded MTK Global in 2012 under the name MGM and sold it off in 2017.

"The company has been forced to distance itself from Kinahan over the years, with the Irishman saying he simply advised fighters who happened to be represented by MTK Global," the ESPN report said.

Tyson Fury is the most notable boxer to have fought under the MTK banner. Pressed on the matter Tuesday, he told the Guardian's Donald McRae he's "just a boxer" and that the situation surrounding Kinahan is "none of my business."