Richard Schaefer leaves Golden Boy promotions after 14 years as CEO

Richard Schaefer has announced his decision to leave the world’s biggest boxing promotional company, Golden Boy.

The former banker will step down from his role as CEO following 14 successful years at the helm.

Schaefer’s final few months were dogged by his deteriorating relationship with president Oscar De La Hoya.

The former six-division world champion had angered Schaefer by rebuilding his relationship with Top Rank promoter Bob Arum.

End of the road: Richard Schaefer announced that he is stepping down as CEO of Golden Boy

Differences: Richard Schaefer and Oscar De La Hoya

Schaefer said in a statement: ‘After more than 10 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.’

Schaefer could now link up with Floyd Mayweather and powerful but secretive boxing advisor Al Haymon who recently signed a plethora of fighters, including Britain’s Amir Khan.

Mayweather said last month that he would be happy to work with Shaefer should he leave Golden Boy.

‘Richard always has a home over here. We would love to work with him hand in hand if he has any problems over there because we know it’s a company Richard Schaefer built,’ he said.

‘We are working hand in hand already. We would love to work with Richard. He’s a great guy, a great father. Richard knows the door is always open. Richard Schaefer knows he’s family.’

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