By Rick Reeno

Former Golden Boy Promotions CEO Richard Schaefer is officially coming back to the sport of boxing.

Schaefer has been sitting on the shelf since his departure from Golden Boy in 2014. Schaefer and former best friend Oscar De La Hoya co-founded Golden Boy in 2002. Schaefer ran the daily operations of the company, while De La Hoya was largely viewed as the figurehead.

With Schaefer at the wheel, Golden Boy became a major powerhouse in the sport and staged two of the most successful pay-per-view events in boxing history - Floyd Mayweather vs. De La Hoya in 2007 and Mayweather vs. Saul Canelo' Alvarez in 2013. Those two events were the record leaders in revenue generated and pay-per-view buys - until Mayweather vs. Manny Pacquiao blew them away last May.

In his final year with the company, there was tension building behind the scenes between Schaefer and De La Hoya. The two had a difference of opinion when it came to the direction of the company and the business relationship with manager/adviser Al Haymon.

After Schaefer left, there was a nasty legal battle with Golden Boy which settled, under confidential terms, last January. While most of the settlement terms were kept under wraps. However, it was revealed that Schaefer gave up his ownership percentage of Golden Boy - which went back to De La Hoya. And he also agreed to a no-compete clause which expired last August.

Now Schaefer is ready for a new day. He formed a new promotional entity - Ringstar Sports - and plans to stage their first event by the end of the summer. Schaefer has already obtained a license to promote in California, New York and Texas, and is currently in the process of being licensed in Nevada.

"I decided that it was time for me to come back," Schaefer told BoxingScene.com. "I've been away for quite a while, but it was time for me to come back. I decided to form a new company Ringstar Sports. I formed it a couple of weeks ago and filed for promotional licenses in New York, California, Texas and Nevada. I'm ready to re-enter the boxing promotion business."

"I could have come back [last year], but I didn't feel that it was the right time until now. I'm ready. I think there is a lot of boxing going. There are a lot of opportunities going on in the sport. The sport of boxing is getting more exposure than it has in the last 20 years and that's a good thing. There is also a lot of negativity as well. I feel that I can add promotional value to a lot of those events, increase the visibility of the events, increase the visibility of the fighters and most importantly I feel that I can add by maximizing revenues for some of those athletes. So I decided that it was time and I'm going to reactive my relationships in the boxing industry - with the promoters, the networks and the venues."

"And now I'm going to recruit some great people for the company, because it's not a one-man show. It's a team effort. I want to have the best, so when I do go out and get fighters, I want offer these fighters the best of everything so they have the opportunity to make the most money. Now whether it's young guys coming from the Olympics or those who didn't make the Olympics or guys who fit the Ringstar mold - we will pursue them and purse any and all promotional free agents - whether they are former or current world champions. I want to do things right in the right order. I want to have a TV platform, a team and sponsorships that are going to be second to none in the sport."

Schaefer has very close relationships with Haymon and Floyd Mayweather Jr. He admits that his company will eventually work side by side with Haymon's Premier Boxing Champions banner and Mayweather's company, Mayweather Promotions.

Haymon currently has numerous promoters who assist him with his army of televised events, but some of those promoters have come under fire for doing very little when it comes to actual promoting - an area where many believe Schaefer could provide some much needed support.

"I'm not going to say anything bad about those guys, because everybody has different styles. Everyone works different. One talks more with a microphone and does more press interviews, but that doesn't mean that he's a bad promoter. It's just a different approach. I respect all of them. Do I hope that I will promote some of the PBC events? Of course I am. I hope I get the opportunity to show the PBC people how I promote and what kind of visibility that I can bring to these fights," Schaefer said.