Boxing promotion Probellum has moved to distance itself from Daniel Kinahan after the US Treasury implemented sanctions against the Kinahan cartel.
The promotion has been heavily linked with Kinahan since it was launched last September.
Probellum have signed a number of MTK fighters and have staged shows in the UK and Dubai in recent months.
Among their upcoming events is a double world title fight card in Liverpool next weekend.
They said in a statement on Wednesday night: "Probellum takes the sanctions made by the US Treasury extremely seriously and the business and its employees will be fully compliant with them.
"We have retained counsel in the US to ensure that we fully comply with all rules, regulations and requirements related to this matter, including not working with any individual or company that has been placed under US sanctions.
"This includes Daniel Kinahan and we can confirm that we will not have any business relationship or communication with him whatsoever.
"Bob Arum’s comments implying that Top Rank has ceased a business relationship with Probellum are baseless.
"Top Rank is a competitor and since Probellum’s inception, Top Rank has never worked directly with us. Any suggestions that Daniel Kinahan is a shareholder or owner of Probellum are false and defamatory."
The statement comes after Arum revealed how Kinahan tried to force his way into fight negotiations in recent months but was told to butt out.
The 90-year-old was previously a supporter of Kinahan’s involvement in the sport, labelling him as an “honourable man”.
And he once insisted he was not concerned about allegations over the Dubliner’s involvement in organised crime.
But now Arum, one of the most powerful figures in boxing, has cut ties with Kinahan following the US government placing sanctions on the gangster, along with his father Christy Snr, 65, and his brother Christy Jnr, 41, and four of their key associates.
Arum also told Newstalk Breakfast yesterday that he knew of allegations about Kinahan but the involvement of the US government and law enforcement has effectively ended his role in the sport.
He said: “Frankly “I was surprised because I had no inkling that there was any type of US involvement here.
“I knew all of the accusations – the Irish media and all of that – but I didn’t contemplate the US would be involved.”
Asked if he stood over comments he made in June 2020, in which he described Daniel Kinahan as “an honourable man”, he said: “Well no.
“I can’t talk, nor would I talk, about his dealings with us – but when my government makes a statement like they made, as a law abiding citizen of the United States, I have no other alternative but to abide by their determination”.
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