Floyd Mayweather dumps Golden Boy following Richard Schaefer's resignation

Jeff Bottari

The boxing world was rocked when Richard Schaefer left Golden Boy Promotions and Floyd Mayweather followed in his footsteps, ending his seven year relationship with the promotion.

The boxing landscape was altered significantly yesterday in a one-two punch of Golden Boy Promotions news.

First, Richard Schaefer resigned from Golden Boy. Schaefer was a co-founder of GBP--along with Oscar De La Hoya--and has served as CEO for the company since it's launch.

This came after months of rumors of a rift between Schaefer and De La Hoya. Schaefer had been a driving business force behind the success of GBP and his resignation came just days ahead of De La Hoya's induction into the International Boxing Hall of Fame.

In the wake of that news, ESPN reported that Floyd Mayweather would no longer be working with Golden Boy Promotions. Mayweather has worked with GBP since his record breaking fight with De La Hoya in 2007.

"We have a great working relationship with Richard Schaefer and that will never change," Mayweather Promotions CEO Lloyd Ellerbe told ESPN. "Richard is a good friend and a great businessman and an excellent promoter . . . He built that company from the ground up and did a phenomenal job."

The long running speculation has been that Schaefer would leave Golden Boy to form his own promotional company, likely promoting many clients of the very powerful Al Haymon, or could join up with Mayweather Promotions for an executive role with Floyd's team.

Recent months had seen De La Hoya patch up his relationship with Bob Arum, leading to him vowing again on Twitter and end the "cold war" between Golden Boy and Top Rank. The two promoters have refused to work with each other for years, leading to a situation where HBO broadcasts Top Rank and not Golden Boy and vice versa for Showtime.

Schaefer held firm on the idea of not working with Arum. So Mayweather ending his relationship with Golden Boy means that he probably won't be a part of any cold war ending plans (i.e. a Pacquiao fight).

As for what this means for MMA, Schaefer starting his own promotional company with Haymon (or even coming on board with Mayweather Promotions to try and make them into a bigger force on the boxing landscape) could mean more PPV slots as Top Rank and Golden Boy will still want their bites at the apple while the new player will try to get theirs as well.

Floyd will likely keep Cinco De Mayo weekend and Mexican Independence Day weekend as his fight weeks going forward and his longterm deal with Showtime means he won't be on the hunt for a place to broadcast the fight.

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