Richard Schaefer leaves Golden Boy
- Updated: June 2, 2014
Oscar De La Hoya’s long-time right hand man Richard Schaefer has decided to step away from the company he helped build into arguably the most successful boxing promotion today.
In a statement today, Schaefer stated, “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 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 all really comes to the surprise of no one as there had been rumors of a potential break-up at Golden Boy for months now. With Oscar De La Hoya openly discussing his desire to work with Bob Arum and Top Rank to co-promote fights, this may be the main reason as to why Schaefer is leaving.
Schaefer, who has a good relationship with Floyd Mayweather and powerful manager Al Haymon, will most likely look to begin his own promotional venture, should he decide to stay in boxing, which Schaefer didn’t address in his statement. With many of Golden Boy’s fighters managed by Al Haymon, it remains to be seen exactly which fighters end up where. This is only the beginning, things could get ugly.