Richard Schaefer, Golden Boy Promotions (GBP) CEO, resigned on Monday, after 12 years at GPB’s front sit in a move that will alter current boxing landscape.
In an official statement, here is what Richard Schaefer said:
“After more 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 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 now I look forward to new challenges“.
The split between Richard Schaefer and Golden Boy Promotions owner Oscar de la Hoya has been anticipated. Prior to the Mayweather-Maidana fight there were already reports of power struggle inside the promotion. De la Hoya wanted to take total control of the company.
“I don’t care what it takes. I will end the Cold War for the fans.” De La Hoya told in an interview with RingTV.com.
Under the leadership of Schaefer the alliance of Golden Boy Promotions and Showtime took place. This resulted to a “cold war” they referred to in boxing: HBO-Top Rank alliance and Showtime-GBP.
This is one of the tons of reason why Floyd Mayweather vs. Manny Pacquaio is next to impossible to happen.
Now that Schaefer stepped down expect more explosive happening in the coming days in the current boxing model.
Probabilities are best explained here by Tim Starks of the Queensberry-rules.
So boxing fans stay tuned as we might get now the fights we love to see.