MTK GLOBAL, THE boxing management company, has announced that it will cease operations at the end of this month.
The company says that it has faced “unprecedented levels of unfair scrutiny and criticism” following the US government’s move last week to enact worldwide sanctions against Daniel Kinahan.
“It is a matter of public record that Mr Kinahan’s involvement in MTK ceased in 2017,” MTK’s statement read, “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.”
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MTK Global last week insisted that they would comply fully with the sanctions brought by the US government against Kinahan as part of a campaign targeting organised crime.
Today’s announcement follows the resignation on Tuesday of MTK CEO Bob Yalen after four years in the role, stating that “the pressure of the last few weeks has been particularly intense”.
MTK Global’s statement in full:
“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.
“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.
“Thank you to all the fans who have supported us over the last decade.”
MTK Global will cease operations at the end of this month
MTK GLOBAL, THE boxing management company, has announced that it will cease operations at the end of this month.
The company says that it has faced “unprecedented levels of unfair scrutiny and criticism” following the US government’s move last week to enact worldwide sanctions against Daniel Kinahan.
“It is a matter of public record that Mr Kinahan’s involvement in MTK ceased in 2017,” MTK’s statement read, “and despite repeated reassurances in this regard, unfounded allegations about his ongoing association with us and our fighters persist.
MTK Global last week insisted that they would comply fully with the sanctions brought by the US government against Kinahan as part of a campaign targeting organised crime.
Today’s announcement follows the resignation on Tuesday of MTK CEO Bob Yalen after four years in the role, stating that “the pressure of the last few weeks has been particularly intense”.
MTK Global’s statement in full:
“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.
“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.
“Thank you to all the fans who have supported us over the last decade.”
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