After months of internal bickering between Golden Boy Promotions President Oscar De La Hoya and Golden Boy CEO Richard Schaefer, a resolution appears to have been reached between their lawyers.
Schaefer has announced that he is officially gone from Golden Boy.
"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."
The feuding between Schaefer and De La Hoya first began when De La Hoya publically revealed his intention to make peace with promotional rival Bob Arum of Top Rank. Schaefer was very much against the move and made it clear that he would refuse to have anything to do with Arum or his company.