The promoter and manager, who has suffered heart problems in recent years, retired from boxing in October, claiming she had fallen out of love with the sport - but it has now emerged she walked away to begin preparing for her new life as a woman.
Maloney, who was born in London, was involved in the sport for 30 years and had hoped to lead Liverpool heavyweight David Price to the top of the division.
Speaking at the time, the famously flamboyant promoter said: 'For the last year I have gradually fallen out of love with boxing and my passion has been missing,' he said in a statement.
'I did much soul searching over the summer and my heart is no longer in the sport that I loved so much.
'If I continued as his promoter it would be unfair as I cannot give the commitment and love for the sport that is needed to get his career back on track.
'I no longer got the buzz I used to get. It has also been a tough time for me personally and I feel a lot more at ease with myself by reaching this decision.
However, she has now revealed she has felt trapped in the wrong body ever since she was a child.
Speaking to the Sunday Mirror, she said: 'I can�t keep living in the shadows, that is why I am doing what I am today. Living with the burden any longer would have killed me.'
The 61-year-old admits the pressure and confusion caused by her struggles with her identity caused battles with drink, depression and drugs and has been secretly receiving counselling and therapy.
Kellie says she kept her turmoil in the shadows because she feared a backlash from the notoriously macho world of boxing.
'I have never been able to tell anyone in boxing,' she added. 'Can you imagine me walking into a boxing hall dressed as a woman and putting an event on?'
Kellie is now over a year into the transition period before surgery and in the past two years she has secretly undergone hormone therapy, hair removal and voice coaching.
One of the hardest parts of the decision was telling her second wife and Kellie insists she doesn't want a new relationship and isn't interested in a sexual relationship with anybody.
A number of celebrities have expressed their support for Kellie's decision.
Stan Collymore tweeted: 'I wish Frank Maloney, now Kellie all the very best. Being who he wants to be after 61 years. Nobody deserves to begrudge him happiness.
Meanwhile Trainspotting author Irvine Welsh added: 'All the best to Kellie, formerly Frank Maloney, in her new life. Great achievements happen in boxing, as elsewhere, irrespective of gender.'
Source : DailyMail , Mirror
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