CEO of boxing company founded by Daniel Kinahan resigns for “personal reasons” and speaks of “intense pressure”

The CEO of the boxing company founded by Daniel Kinahan has resigned from his role citing “intense pressure” over the past few weeks.

TK Global said its CEO Bob Yalen is stepping down after four years with the organization for personal reasons.

His resignation comes less than a week after the US government announced sanctions against the Kinahan gang hierarchy, barring American citizens and corporations, or anyone in the US, from doing business with them.

Yalen previously praised Daniel Kinahan for his involvement in the sport but said last week the company would comply with sanctions.

MTK Global also distanced itself from Kinahan, saying they split five years ago, although Yalen previously told a BBC documentary he still advises MTK boxers.

On Tuesday morning, the sports company announced that its CEO had resigned from his position due to personal reasons.

In a statement, Bob Yalen said, “I am incredibly proud of the success of MTK Global and feel privileged to serve as President and CEO since 2018.

“However, the pressure over the last few weeks has been particularly great. I have to consider the impact on me and my family. After four years at the helm of MTK, I think it’s time for me to step aside to pursue new challenges.”

Alongside the sanctions, the US State Department also announced a $5 million reward for information leading to the conviction of gang founder Christy Kinahan, his sons Daniel and Christopher Jr., or the “financial destruction” of their transnational criminal group.

The major move against the Kinahan hierarchy, led by gardaí, has sparked a rift in the boxing world, with influential people who once praised Daniel Kinahan now distancing themselves from him.

Yesterday World Boxing Council (WBC) President Mauricio Sulaiman Saldivar said he made an “innocent mistake” in offering his “full support” to Kinahan just last month.

Saldivar denied ever having a relationship with the alleged mafia boss and that their meeting in Dubai sparked “speculation and attacks” on him and his organization.

Boxing promoter Bob Arum, who called Kinahan “honorable,” also said he would no longer do business with him in light of developments.

At last week’s press conference, Garda Commissioner Drew Harris warned those involved in boxing about their association with Kinahan.

Mr Harris said people associated with the sanctioned individuals are becoming involved in a criminal network.

He added that they should look at their own businesses and relationships with their fans and consider if they want to be involved.