After months of speculation, Golden Boy Promotions CEO Richard Schaefer has announced his departure from the company.
Schaefer, who has been at odds with Golden Boy president Oscar De La Hoya over the latter’s willingness to work with rival Top Rank, confirmed that he will retain interest in Golden Boy as a shareholder.
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.
At press time, representatives for Schaefer advised there will be no further statements at this time on whether he will continue to work in the boxing industry.
It’s too early to speculate on what this means for Golden Boy and the greater boxing community. With that said, it’s hard to imagine this not becoming a major turning point in the boxing industry. Will it come in the guise of HBO opening up its doors again to Golden Boy? De La Hoya and Arum possibly organizing a few mega pay-per-views in 2015? Or how about Schaefer becoming the CEO of an upstart promotional company centered around Al Haymon-managed fighters?
Stay tuned boxing fans. This is going to be an interesting summer.