THE BOXING MANEGMENT company founded by Daniel Kinahan has ceased operations today after the US sanctions were placed on the Dubliner.
The company has said that the company has received 'unfair scrutiny and criticism' in the wake of the sanctions.
The United States government offered a $5million (£3.84m) reward for information on the group leading to the arrest and conviction of Kinahan and his family last week.
The statement from MTK Global 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.
"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."
The company have also stated that they will put their fighters first after distancing themselves from the Kinahan.
"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 supported us over the last decade. "
This comes a day after the CEO of MTK Global, Bob Yalen stepped down for personal reasons.
Tyson Fury is one of the fighter's signed to the company and faces a huge heavyweight fight against Dillian Whyte this weekend.
The company announced the news in the middle of his press conference on Wednesday.
The Gypsy King also announced he would be retiring from boxing after Saturday's event in Wembley.
I’m walking away. I have nothing to prove to nobody. I’ve done what I had to do. That’s it. Win, lose, or draw on Saturday night, we put up a good fight and we go home. That’s it, he said
🗣️"This is my final fight"
Tyson Fury has said he will retire after his fight against Dillian Whyte ⬇ pic.twitter.com/PbQ2ayGTRX
— Sky Sports News (@SkySportsNews) March 1, 2022