Not So Golden- Richard Schaefer Resigns As CEO of Golden Boy Promotions

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Richard Schaefer known to be the brains behind the scenes at Golden Boy Promotions is stepping down as CEO of arguably one of the top two boxing promotional companies in the sport, Top Rank being the other. Rumors of a falling out between Schaefer and Golden Boy Founder/President Oscar De La Hoya have being surfacing for several months so today’s announcement while a major happening in the sport, is not entirely shocking.

Schaefer will still be linked to Golden Boy, stating, “I am proud to remain a shareholder, so I have a strong interest in the continued success of the company”  added Schaefer, “I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges”

Hmmmm, we will have to wait to see if by “new challenges” Schaefer was referring to combining forces with boxing advisor Al Haymon which has also been rumored for several months.  Haymon, who Sports Illustrated called one of the 50 most powerful people in sports (coming in at #42), is as big an influential player as there is in the sport. The combination of Schaefer and Haymon could send a shockwave through the sport not seen in some time.

Where does this leave Golden Boy Promotions? Good question. Maybe this will lead towards an end of the overused “cold war” but only time will tell.  One thing’s for sure, the sport is moving into a very interesting direction in the promotional arena which will most likely open up endless possibilities for dream match ups.

Lastly, if the aforementioned partnership between Schaefer and Haymon comes to fruition forget the “cold war” and get ready for WWIII.

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