Home News Richard Schaefer officially departs Golden Boy Promotions

Richard Schaefer officially departs Golden Boy Promotions

Credit: Esther Lin / Showtime

The internal Golden Boy Promotions feud between Oscar De La Hoya and Richard Schaefer has finally come to a head. Schaefer is leaving the company, and as of this time, his next move has not been announced. Of course, the ramifications could be quite significant, and there are a number of ways this could all play out.

Here’s an official statement from Richard Schaefer, which was released through Golden Boy Promotions:

“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.”

One of the much-rumored possibilities is that Schaefer teams up with Al Haymon to form their own promotional company, or some other kind of partnership. Details have leaked over the past few weeks about how many “Golden Boy” fighters are in fact only signed managerially through Haymon, without long-term deals tying them with GBP.

This makes for a very convenient power play and shift. It also raises some interesting questions as to:

  1. The legal legitimacy of Haymon acting as essentially manager and promoter, which has already been called into question;
  2. Which fighters are going to side with which of the severed factions of Golden Boy; and
  3. How this could affect Golden Boy’s relationship with Showtime, (and lack thereof with HBO), as well as with rival promoter Bob Arum of Top Rank, whom De La Hoya has been intent on resuming business with.

The careers of none less than Floyd Mayweather, Canelo Alvarez and many of the remaining big stars in the sport hinge in the balance.

Until something else is announced though, it’s all speculation. What we’re left with is that Oscar De La Hoya and Richard Schaefer have officially parted ways, and there could be some very big announcements and further shakeups in the works over the next few days.