MTK Global have announced they are ceasing operations.
Their decision comes just over a week after co-founder Daniel Kinahan had a $5million dollar bounty placed on his head by the United States Treasury Department.
MTK say the sanctions imposed upon Kinahan mean leading promoters have been severing ties with the management company en masse.
Earlier this week, company CEO Bob Yalen announced his resignation citing the "intense pressure" he's faced in recent weeks.
Last week Yalen saw a future for MTK after the Kinahan sanctions, saying, "MTK Global will take every measure to ensure the company, and those who deal with it are fully compliant with the US sanctions announced this week and take this matter extremely seriously."
MTK continue to insist that Kinahan has had no direct involvement with the company since 2017.
They represent a number of high-profile boxers, including WBC heavyweight champion Tyson Fury, Billy Joe Saunders and Carl Frampton.
In releasing their statement, MTK have also scrubbed the rest of their website from view.
MTK Global statement:
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 5 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 to over the last decade.
Download the brand new OffTheBall App in the Play Store & App Store right now! We've got you covered!
Subscribe to OffTheBall's YouTube channel for more videos, like us on Facebook or follow us on Twitter for the latest sporting news and content.
