MTK Global, the management company that was co-founded by alleged crime boss Daniel Kinahan, announced early today that they were planning to cease operations by the end of the month.

The company, which manages and/or advises over 100 fighters from around the world, has already shut down their website.

MTK Global currently work with several world champions - including WBC heavyweight champion Tyson Fury, undisputed junior welterweight champion Josh Taylor and WBO bantamweight champion Dina Thorslund.

On Tuesday, Bob Yalen announced his resignation as CEO of MTK Global.

A tidal wave of controversy began earlier this month, when the United States Treasury department revealed a $5 million reward for information leading to the capture of Kihanan, and several others, who were named as alleged leading figures in an overseas criminal organization.

And on Wednesday morning, the below statement was issued by MTK Global.

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