MTK Global CEO Bob Yalen has stepped down due to the ‘pressure of the last few weeks’.
The move comes just days after the company’s co-founder and mob boss Daniel Kinahan had a $5 million bounty placed on him by the US Government.
Crime lord Kinahan co-founded the company with former boxer Matthew Macklin, who has no connection to crime, under the name of MGM Promotions.
It rebranded to MTK Global after the Regency shootings in 2017 and claim to have cut ties with the vile gangster since then.
And just a week after bounties were placed on the head of Kinahan, his father Christy and his younger brother Christy Jnr, MTK CEO Bob Yalen has stepped down.
In a statement released this morning 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 last week doubled down on their claim that they have had no working relationship with 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.
“MTK operates ethically, transparently and lawfully. We will cooperate fully with all authorities and assist with any ongoing investigations.”
However Kinahan’s influence in the world of boxing has remained strong as he attempted to use the sport to clean up his reputation.
Legendary promoter Bob Arum admitted to paying Kinahan €3.6 million for his role in negotiating four Tyson Fury fights in recent years, up to 2021 and before .
Arum, a former lawyer, confirmed making four payments of around one million dollars.
One each for Fury’s two most recent wins over Deontay Wilder plus the bouts with Tom Schwarz and Otto Wallin, between 2019 and 2021.
Heavyweight champ Fury personally thanked Kinahan in an Instagram video in June 2020 for negotiating a possible fight with Anthony Joshua which has since fallen through.
The Gypsy King finally broke his silence on his relationship with Kinahan after initially refusing to answer questions about it.
Fury told Ring TV: “It’s none of my business, and I don’t get involved in other people’s business.”
