By Rick Reeno
Golden Boy Promotions have been co-promoting Floyd Mayweather Jr. since he won a twelve round split decision over Oscar De La Hoya in May of 2007. Mayweather has never been on good terms with De La Hoya, the President of Golden Boy, but the unbeaten boxer was very close friends with Golden Boy Promotions CEO Richard Schaefer.
When Schaefer made an announcement on Monday that he was officially leaving Golden Boy, it came as no surprise that Mayweather would terminate his business relationship with De La Hoya's company.
For several months, De La Hoya and Schaefer were bickering internally over the business direction of Golden Boy. According to both sides, much of the bickering was due to De La Hoya's desire to rekindle a working relationship with Top Rank's CEO Bob Arum, who Schaefer had no intention of working with.
Last month, Mayweather made it clear that if Schaefer left Golden Boy, he would welcome him to Mayweather Promotions with open arms.
"Richard knows there is always a home over here. We would love to work with him hand in hand. If he has any problems over there. That's the company that we know Richard Schaefer built. Richard and Leonard [Ellerbe] work hand in hand. We're working hand in hand already. We would love to work with Richard. He is a great guy, a great father," Mayweather said.
"Richard knows the door is always open, we look at him as family. We're stronger together than apart. And I think we are going to continue to build with each other and grow with each other."
Ellerbe confirmed on Monday, to ESPN, that Mayweather was staying true to his word and was walking away from Golden Boy due to Schaefer's departure.
Last month, Schaefer did state that he would explore several possibilities once a final decision was made on whether or not he was staying at Golden Boy. One of the more circulated rumors would have Schaefer and powerful adviser Al Haymon starting their promotional company.
"Floyd and me are friends, we have a close relationship but truth be told, I haven't had any conversations with Floyd because I don't think that would be appropriate, because I have a job at Golden Boy and I'm gonna continue to do it," Schaefer said. "But once I do either stay or not stay, whatever the decision gonna be, then I will look at what opportunities are out there and, obviously, Floyd, whether I'm there or not there has a bright future.
"Al and me are friends. We work very well together. We have done good business together. He's a businessman I highly respect and regard. His accomplishments are not just in the sport of boxing. But I am not going to discuss my thoughts. I don't really think about what I'm gonna do next. I have a pretty good idea."
Tags: Floyd Mayweather Jr. , Oscar De La Hoya , Richard Schaefer , Golden Boy Promotions