![]() "I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. "This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. "After more than 10 years with Golden Boy, it is time to move on to the next chapter of my career," Schaefer said in a statement earlier Monday. His exit from the company was not unexpected, given the public issues between Schaefer and De La Hoya over the past few months, but the timing was a bit surprising - a few days before De La Hoya's induction on Sunday into the International Boxing Hall of Fame. Schaefer, the former Swiss banker who co-founded Golden Boy Promotions with close friend De La Hoya in 2002, has served as its only CEO. I have a tremendous team and staff and we continue to expand year by year and we're ready to go." "Mayweather Promotions will continue to promote Floyd's fights and Floyd will continue to put on the biggest fights in boxing. We've had a very close relationship for a number of years and worked hand-in-hand on a number of great fights. He built that company from the ground up and did a phenomenal job. Richard will have an impact in anything that he decides to do, a tremendous impact. "Richard is a good friend and a great businessman and an excellent promoter. "We have a great working relationship with Richard Schaefer and that will never change," Ellerbe said. That is a big hit worth millions of dollars to De La Hoya's company. When asked if Mayweather would work with Golden Boy again without Schaefer, Ellerbe said, "Absolutely not." 13, Golden Boy will no longer be involved, Mayweather Promotions chief executive Leonard Ellerbe told Monday night. So when Mayweather, the junior middleweight and welterweight champion, returns for his next fight on Sept. Mayweather and De La Hoya do not like each other and have never hidden that fact. Mayweather, whose fights generate the biggest pay-per-view numbers in the sport, has worked with Golden Boy on a fight-by-fight basis for all of his nine bouts since his 2007 blockbuster against De La Hoya, which set the all-time pay-per-view buy record at nearly 2.5 million subscriptions.īut Mayweather, whose own company, Mayweather Promotions, co-promoted his fights, only worked with Golden Boy because of Schaefer, with whom he has grown close over the years. Hours after Richard Schaefer's Monday resignation as chief executive of Golden Boy Promotions following months of infighting with company co-founder/majority shareholder/president Oscar De La Hoya, pound-for-pound king Floyd Mayweather Jr.
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