Fight News

De La Hoya on Schaefer’s Departure: “Golden Boy is moving forward…”

With Richard Schaefer's resignation from Golden Boy Promotions earlier this week, company president Oscar De La Hoya has released his own statement on the future of the promotion...

Bob Arum, Oscar De La Hoya

With Richard Schaefer’s resignation from Golden Boy Promotions earlier this week, company president Oscar De La Hoya has released a statement on the future of his promotion.

While not giving details on the contractual status of their fighters, De La Hoya advised that Golden Boy will not cancel any pending fights and hinted at his proposed plan to make inter-promotional matchups.

“Golden Boy Promotions is moving ahead on all fronts,” said De La Hoya. “We look forward to continuing and expanding our key position in the boxing world and to providing the public with the very best the sport has to offer.”

Schaefer served as Golden Boy CEO for 10 years. Floyd Mayweather, who’s utilized Golden Boy to co-promote his fights since 2007, also severed ties with the company.

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If Oscar remains true to his word, history will look back very kindly on him. A cardinal sin in business is letting personal feelings muddle matters. We’ve had exactly that over the last several years with the Arum-Haymon and Arum-Schaefer feuds. And the biggest losers continue to be the fans and fighters. The former gets robbed of the best possible matchups. The fighters themselves lose out financially if their biggest potential opponent is on a rival network or promotion, and legacy-wise they take a hit as they can never truly claim to have been the best fighter in their division (only the “best” HBO/Showtime or promotion’s fighter). What happens on Mayweather’s September 13 date will do a lot to determine what direction Golden Boy and Haymon’s stable will be headed in for 2015.

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