Hours after Richard Schaefer’s Monday resignation as chief executive of Golden Boy Promotions following months of infighting with company co-founder/majority shareholder/president Oscar De La Hoya, pound-for-pound king Floyd Mayweather Jr. dumped the company, reports ESPN.
Mayweather, whose fights generate the biggest pay-per-view numbers in the sport, has worked with Golden Boy on a fight-by-fight basis for all of his nine bouts since his 2007 blockbuster against De La Hoya, which set the all-time pay-per-view buy record at nearly 2.5 million subscriptions.
But Mayweather, whose own company, Mayweather Promotions, co-promoted his fights, only worked with Golden Boy because of Schaefer, with whom he has grown close over the years. Mayweather and De La Hoya do not like each other and have never hidden that fact.
So when Mayweather, the junior middleweight and welterweight champion, returns for his next fight on Sept. 13, Golden Boy will no longer be involved, Mayweather Promotions chief executive Leonard Ellerbe told ESPN.com Monday night.
When asked if Mayweather would work with Golden Boy again without Schaefer, Ellerbe said, “Absolutely not.”
That is a big hit worth millions of dollars to De La Hoya’s company.