Golden Boy likely to have further front office defections after Schaefer's resignation

Harry How

Oscar De La Hoya and company have their work cut out for them following Richard Schaefer's departure as CEO, and it's expected that more names could bail in his wake.

As we keep saying, the changing of the guard at Golden Boy Promotions and the ramifications from it are far from over, and it sounds like further front office defections at the promotional giant are expected. Chris Mannix of Sports Illustrated figures that at least one more major player could leave Golden Boy in the wake of Richard Schaefer's resignation as CEO of the company:

Golden Boy is a mess, and De La Hoya's statement offered little insight into what he plans to do to clean it up. It just lost its CEO and will probably lose its Chief Operating Officer, Bruce Binkow, in the coming weeks. Binkow is a close ally of Schaefer's and it's hard to see him sticking around this dumpster fire any longer than he has to. More likely, Binkow will eventually wriggle free and team up with Schaefer. As could David Itskowitch, Binkow's predecessor who left the company last year. Itskowitch was spotted at Wednesday's press conference promoting this weekend's Miguel Cotto-Sergio Martinez fight.

As Mannix notes, there are major issues overall with Golden Boy moving forward. Oscar De La Hoya has never been part of the day-to-day operations of the company, lending mostly his name brand value and star power to the company's rise over the last decade and change. While his presence was certainly valuable, it was Schaefer who did the real work, assisted by others like Itskowitch and Binkow.

De La Hoya has a lot on his plate right now, and Golden Boy only has two major cards scheduled at the moment. They have a June 21 bill on Showtime, headlined by Robert Guerrero's return, and the July 12 Canelo-Lara pay-per-view event. After that, it's going to come down to what's left, who they're going to be able to work with, and what network will televise their fights.

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