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”.
And in a statement released during Tyson Fury's press conference with Dillian Whyte, MTK Global said: "As a business we have faced unprecedented levels of unfair scrutiny and criticism since the sanctioning by the US Government of Daniel Joseph Kinahan.
"It is a matter of public record that Mr Kinahan's involvement in MTK ceased in 2017, and despite repeated reassurances in this regard, unfounded allegations about his ongoing association with us and our fighters persist.
"Since leading promoters have now informed us that they will be severing all ties with MTK and will no longer work with our fighters, we have taken the difficult decision to cease operations at the end of this month.
"MTK prospered because we always put the long term interests of our fighters at the heart of what we do. Our priority in the weeks ahead will be to ensure that our world class boxers are supported to find new partnerships as swiftly as possible.
"MTK gyms are operated independently so will remain open for the ; foreseeable future. Further announce
Fury insists the recent sanctions against Daniel Kinahan are “nowt to do with me” and says he has “absolutely zero” business with the alleged crime boss.
The world heavyweight champion will face Dillian Whyte at Wembley Stadium on Saturday, in an event set to be attended by 94,000 spectators, but the build-up to the all-British bout has been overshadowed.
Asked if he had any business with Kinahan, Fury said: “Zero, absolutely zero. It’s none of my business. I keep my own business to myself, that’s it. Has it been a distraction? Not really, it’s got nowt to do with me, has it?
“If I say, ‘There’s a war going on in Ukraine’, and people ask me about that, it’s got nowt to do with me. I keep my business to myself. I’ve got my own troubles to look after with six kids and a wife. I’ve got a lot more to think about than other people’s business. In my life, I’ve got a man who wants to punch my face in next week and I’ve got to deal with that. Anything else is out of my control.”
