Why is MTK Global closing? The boxing organization will cease its activities at the end of April
Following heavy penalties against founder Daniel Kinahan for his ties to organized crime, boxing management company MTK Global will cease operations by the end of April. The organization make the announcement just days before Tyson Fury’s WBC heavyweight title fight against Dillian Whyte on April 23.
Founded in 2012, the promotion’s website has already been shut down.
MTK Global released a statement regarding the decision. Due to “unprecedented levels of unfair scrutiny and criticism” since Kinahan was sanctioned by the US government, many fighters and promoters have stopped working with MTK. Top Rank’s Michael Conlan and Bob Arum are just a few names that have retired from all things MTK.
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US officials attended a press conference in Dublin, Ireland, and announced a $15 million reward regarding any information about Daniel Kinahan and his family. The Treasury Department said the family would be members of the Kinahan Organized Crime Group. Kinahan was named a top organized crime official. Their involvement would involve international drug trafficking operations and firearms offences.
“Since major promoters informed us that they would be severing all ties with MTK and no longer working with our fighters, we have made the difficult decision to cease operations at the end of this month,” MTK said in a statement. . “MTK has thrived because we always put the long-term interests of our fighters at the heart of what we do. Our priority in the coming weeks will be to ensure that our world-class boxers are supported to find new partnerships as quickly as possible. »
Kinahan founded MTK but stepped down from his role with the promotion not too long ago. In the statement, MTK pointed out that Kinahan’s involvement in the promotion ceased in 2017. A domino effect has occurred since the sanctions against Kinahan. Bob Yalen, CEO of MTK, resigned from his post last week.
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Yalen ended up joining Probellum, who denied any involvement with Kinahan. MTK has worked with several top fighters including Josh Taylor, Conlan, Billy Joe Saunders and Fury.
Fury was asked by the media about his relationship with Kinahan before his fight with Whyte. Fury said, Via Yahoo Sports“It’s none of your business or anyone else’s, I don’t think. Is it? My business is my business, your business is yours. As I say, it has nothing to do with with me in boxing. I’m just a stupid boxer who gets punched in the face for a living. If I wasn’t, I wouldn’t be here, would I?”
‘The Gypsy King’ thanked Kinahan when a fight between him and Anthony Joshua was agreed in principle not too long ago.
The statement ended by saying that MTK gyms will remain open for the foreseeable future. As of now, it’s unclear what will happen to the fighters signed with MTK.