Richard Schaefer leaves Golden Boy Promotions

Richard Schaefer leaves Golden Boy Promotions

After months of in-house bickering between Richard Schaefer and Oscar De La Hoya at Golden Boy Promotions, the former has announced his withdrawal from the company in a press release. Here is Schaefer’s statement below:

“After more than ten years with Golden Boy, it is time to move on to the next chapter of my career. This decision has required a great deal of personal reflection, but ultimately I have concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges.

This is a MAJOR break in the worldwide landscape of boxing and will be a story to watch as things progress. Who will step in as CEO for Golden Boy remains a top question mark.

When De La Hoya entered rehab during fight week of Floyd Mayweather against Canelo Alvarez, the workload fell even more on Schaefer, who must be credited with the breakthrough success of the company the past few years. One issue was that Schaefer was putting Al Haymon advised fighters on Golden Boy cards without signing them to a contract, which makes you wonder. Golden Boy has built a number of Haymon fighters from the ground up on their shows but don’t have any paper on them. This list includes: Keith Thurman, Shawn Porter, Gary Russell Jr., among others.

-Mark E. Ortega / @MarkEOrtega

-Managing editor at www.BehindTheGloves.com