MTK Global Announced Ceasing Operations Wednesday
The damage done by the investigation into and now, the U.S. government charges against Irish businessman Daniel Kinahan and his family’s alleged illegal activities has now reached the point that the boxing promotion he helped found has announced they’re out of business, immediately.
MTK Global made the announcement online and social media that due to the controversy and promoters/fighters fleeing from them over the past week or more, they will no longer operate,
MTK Global to cease operations
— MTK Global Boxing (@MTKGlobal) April 20, 2022
“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 past decade.”
Boxing promotions like Probellum Entertainment and Top Rank Boxing moved quickly to sever all relationship with MTK Global last week.
And as we wrote just yesterday, the MTK Global CEO Bob Yalen resigned amid the growing scandal/controversy.
Yalen said in Tuesday’s statement: “I am incredibly proud of the success of MTK Global and I feel privileged to have served as President and CEO since 2018.
“However, the pressure of the last few weeks has been particularly intense. I need to consider the impact on myself and my family. So after four years leading MTK, I think it’s time for me to step aside to take on new challenges.”
And, obviously in less than 24 hours later, the company realizes their boxing business is damaged beyond repair.
Kinahan remains a fugitive from the U.S. and Irish authorities with a $5 million bounty for the breakup of what the authorities are calling the “Kinahan family organized crime group.”
The controversy is also a sub-plot to the Tyson Fury WBC heavyweight title defense against Dillian Whyte Saturday night in London. This, as Fury had to spend part of Tuesday addressing with the media his friendship and business relationship previously with Kinahan.
Fury, who was photographed as recently as February with Kinahan, repeatedly answered “I don’t get involved in other people’s business” to the questions in a Q & A session with several reporters.
He later told Sky Sports in a sit-down interview Tuesday, “It’s none of my concern or interest,” Fury said. “I’ve told you three times it’s got nothing to do with me and I don’t care. What a man does in his own business is none of my concern. I’m a boxing man. I don’t get involved in anybody’s business at all. I don’t care what you do. It’s none of my concern. I’m only concerned with what I do and I don’t do anything aside from box. End of.
What the U.S. have said the U.S. have said and that’s it. We have to listen to the government and that’s what we do. End of, because I don’t want to get in trouble with the U.S. government, which I never have been and that’s it.”
Unfortunately, that’s not it, as it relates to Kinahan and the extent in which he’s been intertwined in the sport in the U.K. and with previous relationships Fury and other prominent fighters like Terence Crawford, Michael Conlan, etc.
And, it’s obvious that the Kinahan story will continue prominently for some time to come.