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Wednesday 29 November 2023 Dublin: 2°C

Boxing company co-founded by Daniel Kinahan to receive 'large up-front investment' after buyout

MTK has signed a number of big name boxers since it was established.

THE BOXING MANAGEMENT company which hosted the event that was targeted by the Hutch gang at the Regency Hotel has been bought out by external investors.

A new management team will now be installed at the company, which was part-founded by gangland figure Daniel Kinahan four years ago with three businessmen – none of whom are involved in criminality.

A statement on the firm’s website confirmed that an “external management team” will now replace the existing structure which includes a number of directors.

Significant investment has also been promised to expand the company in order to bring on more boxers.

Former professional boxer and co-founder Matthew Macklin will remain on the board in an advisory capacity.

MTK has signed a number of big name boxers since it was established as Macklin’s Gym Marbella (MGM) in 2012. Recent additions include Carl Frampton, Jamie Conlan and Paddy Barnes.

The company had to rebrand to MTK earlier this year after a legal dispute with the MGM Grand in Las Vegas.

A statement from MTK this week read: “An external management team has this weekend completed a Management Buy-In (MBI) of MTK Global.

The deal includes a large up-front investment and an overhaul of the current management structure. The personnel changes are effective immediately. MTK Global co-founder Matthew Macklin will remain in place in an advisory role.

Macklin said he was happy with the news and said he was comfortable with the company he founded being handed over.

He said: “This is fantastic news for everyone concerned with MTK Global. We have grown so rapidly in the previous five years and I knew it was time to allow the right people with the necessary expertise to take the company forward onto the next level.

“The new team are coming in, investing a lot of money and have some fantastic ideas on how to expand the business and grow the brand. It is great news for MTK and for boxing in general.

“I wouldn’t be comfortable handing MTK over to just anyone, but I know our fighters are in very safe hands.”

The statement said further announcements on the new management personnel will follow .

MTK, then still called MGM, gained notoriety after its Clash of the Clans event in February of 2016 was stormed by three men dressed as gardaí and brandishing AK-47s.

Another man was dressed as a woman and wearing an auburn wig. The fifth attacker was described as stocky and wearing a beige cap. Both were armed with handguns.

Gardaí believe the sixth man sat in the driving seat of the waiting van as the raid was taking place.

Gangland criminal David Byrne was murdered in the attack.

A number of criminal charges have been brought in relation to the shooting.

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