The United States decision to sanction alleged crime boss Daniel Kinahan has led to an unprecedented level of scrutiny for the boxing management company.
Kinahan founded the company in 2012 but sold it in 2017: He is accused of being the leader of the Kinahan crime gang.
On April 12th, the U.S. government announced a $5 million reward for information that will lead to the arrest and conviction of the leaders of the Kinahan crime gang.
The statement from the company said that they have faced unprecedented levels of scrutiny and criticism since the US Government imposed sanctions on Daniel Joseph Kinahan.
It is a public record that Mr Kinahan's involvement in MTK ceased in 2017, and despite repeated reassurances, there are still unfounded allegations about his association with us and our fighters.
We have taken the difficult decision to cease operations at the end of this month since leading promoter have informed us that they will no longer work with our fighters.
Kinahan has been pictured with a number of high-profile boxing figures in recent years. He tried to arrange a fight against Anthony Joshua that failed to materialise.
Over the years, the company has distanced itself from Kinahan because he advised fighters who were represented by the company.
He was placed on the sanctions list with his father and brother.
The pressure of the last few weeks caused Bob Yalen to step down as president and CEO of the company.
The statement from MTK said that they prospered because they always put the long term interests of their fighters at the center of what they do.
Ensuring that our world class boxers are supported to find new partnerships as quickly as possible is our priority in the weeks ahead.
MTRK gyms will remain open for a long time. There will be more announcements in due course. Thank you to the fans who have supported us.
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