MTK Global has announced that CEO Bob Yalen has stepped down from his role. This comes after the company’s co-founder Daniel Kinahan had a $5 million bounty placed on him by the US Government. MTK Global CEO Bob Yalen has stepped down due to the ‘pressure of the last few weeks.
Daniel Kinahan co-founded the company with former boxer Matthew Macklin under the name of MGM Promotions. It rebranded to MTK Global after the Regency shootings in 2017 and claimed to have cut ties with Daniel Kinahan.
Just a week after the bounties were placed on the head of Kinahan, MTK Global CEO Bob Yalen stepped down. In a statement released by Bob Yalen, he said:
“I am incredibly proud of the success of MTK Global and I feel privileged to have served as President and CEO since 2018.”
“However, the pressure of the last few weeks has been particularly intense. I need to consider the impact on myself and my family. So after four years leading MTK, I think it’s time for me to step aside to take on new challenges.”
MTK Global Deny Still Working With Kinahan
Last week, MTK doubled down on their claim that they have had no working relationship with Daniel Kinahan since his departure from the company in 2017. The promotion said:
“MTK Global will comply fully with the sanctions made by the US Government against Daniel Kinahan. MTK parted ways with Mr Kinahan in February 2017. He has had no interest in the business since then, and will have no future involvement with us.”
They also added:
“MTK operates ethically, transparently and lawfully. We will cooperate fully with all authorities and assist with any ongoing investigations.”
Kinahan’s influence in the world of boxing has remained strong since the apparent departure from MTK in 2017. Bob Arum has admitted that he paid Kinahan €3.6 million for his role in negotiating four Tyson Fury fights. The last fight Kinahan negotiated for the Tyson Fury fights was as recent as 2021. Arum confirmed making four payments of around one million dollars each.
Kinahan was involved in Fury’s two most recent wins over Deontay Wilder, plus the bouts with Tom Schwarz and Otto Wallin between 2019 and 2021.
Tyson Fury personally thanked Daniel Kinahan in an Instagram video in June 2020 for negotiating a fight with Anthony Joshua. Unfortunately, the fight never materialised.
Tyson Fury takes on Dillian Whyte at Wembley Stadium this Saturday, April 23rd. After initially refusing to answer questions on his relationship with Kinahan at the media workouts, Fury told Sky Sports: “it’s none of my business, and I don’t want to get involved in other people’s business.”
Frank Warren is also adamant that Daniel Kinahan had no involvement in the makings of Tyson Fury vs Dillian Whyte.
US authorities have offered a five million dollar reward for information on senior members of the Kinahan organised crime group.
Featured image credit to MTK Global