Boxing management group MTK Global announced that it will cease operations by the end of April as a result of the news that Daniel Kinahan is being sanctioned by the U.S. government. Kinahan is an alleged crime boss with links to drug and firearms smuggling in Europe.
Kinahan claims to have sold off his interest in the boxing management group in 2017. Yet, just this past Saturday, up and coming UFC fighter Mounir Lazzezz thanked him for all his help in a post-fight interview. Also, Tyson Fury, who fights this Saturday on PPV, declared in an interview that he had no interest in the US decision to sanction Kinahan and offering up to $5 million for information leading to the disruption of the crime ring. Fury as well as other combat sports athletes have ties to Kinahan.
MTK Global noted that “leading promoters” indicated the severance of ties with MTK and no longer working with its fighters, it made the decision to stop operating.
MTK Global CEO Bob Yalen stepped down on Tuesday as a result of the newfound pressure on the organization following the US government announcement.
Payout Perspective:
With the news that the US Government was sanctioning Kinahan, it was clear that MTK Global would be in the crosshairs. Despite the continued denial that Kinahan was no longer a part of the organization, the stand by promoters to not be associated with him was bound to happen. It is a PR issue as well as a potential legal one as the US may be targeting Kinahan and ties to the MTK Global organization.
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