The boxing management company MTK Global is “to cease operations” by the end of the month following the sanctioning of its founder Daniel Kinahan by the United States government.

Kinahan was last week named as the alleged leader of a cartel responsible for smuggling drugs into Europe and the US Drug Enforcement Agency has offered rewards of up to £3.8 million for information leading to his arrest.

The Irishman, who has no criminal convictions and has always denied any wrongdoing, co-founded MTK Global, one of world boxing’s biggest management companies with a stable of around 200 fighters, in 2012.

Kinahan appeared to cut ties with MTK Global in 2017, although Top Rank promoter Bob Arum has suggested in recent days that he was still involved in the operations of the company.

Tyson Fury, who was listed on MTK Global’s website as one of its fighters, said on Tuesday that he had “absolutely zero” business with Kinahan.

A statement from MTK Global on Wednesday, released during the press conference to promote Saturday’s heavyweight title fight between Fury and Dillian Whyte, read: “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.”

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