Boxing management company MTK Global will cease to operate in light of the US government's sanctions on founder Daniel Kinahan.
Kinahan was last week named as being a head of the Irish Kinahan crime gang and hit with worldwide financial sanctions by the United States government, who have offered a $5million (£3.84m) reward for information on the group leading to the arrest and conviction of its leaders.
Kinahan, who has always denied any wrongdoing, is alleged to be one of the leaders of a cartel the US authorities accuse of smuggling drugs, money laundering and bringing violence to “the most vulnerable in society”.
