Boxing management company MTK Global have announced they will cease operations at the end of the month following the US Government sanctions on founder Daniel Kinahan.
Last week, the US announced a $5million reward for for information on the Kinhan gang leading to the arrest and conviction of its leaders; Daniel Kinahan, Christy Kinahan Senior and Christy Kinahan Junior.
In a statement released today, MTK Global said "unfounded allegations about (Daniel Kinahan's) ongoing association with us and our fighters persist".
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They said: "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."
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