Despite the coming days of TMT Promotions, the 50 Cent and Floyd Mayweather promotional outfit, Richard Schaefer says he believes that Golden Boy Promotions will stay in business with Mayweather for his fights, despite the fact that 50 Cent has said that won't be the case.
"Floyd is a friend of mine. We’re very good friends. He’s a terrific guy. We get along very well. So I’m not really worried by what 50 Cent is doing. I’m just going to leave it at that. Floyd and me have a recipe for success and in the process he has made more money than any fighter ever. ... We work very well together and our teams work well together as well. So I think the future for Floyd and us is terrific and I am excited and looking forward to continue working with him."
Mayweather returned home after a brief jail stint earlier this month, and last fought on May 5, when he beat Miguel Cotto in a big-time pay-per-view attraction.
I really have no idea where this might go. Golden Boy and Mayweather have been working together since 2007. Floyd can legitimately say that he's his own promoter, that he does what he wants, that he makes all this money, because these things are technically true. But it's been Golden Boy doing the legwork, not the surely defunct "Mayweather Promotions." Golden Boy has booked the buildings, dealt with the commission, filled the undercards, and done all the normal promotional work. Mayweather collects his money because he's the reason people show up and he's the reason people buy the PPV. I don't blame him. I think he's a fuckin' genius in this regard. He stood his ground and got what he wanted out of the boxing business.
But TMT is unproven, and they don't yet have a Nevada license either. I'm certain they'll get one. New York gave them a promoter's license, and NY is known as a tougher, more skeptical commission than Nevada. TMT will get licensed where they want to be licensed, and right now, there's no reason to deny them anything either.
Will Floyd still work with GBP? Maybe in the short-term. I have to believe they're still better-equipped to promote a mega-event than TMT will be for a while. These guys haven't even gotten their feet wet yet. Maybe let them dip their toes into the pool and wade into the shallow end before you have them cannonballing off the high dive.
But if Floyd is confident that the TMT crew can handle a large-scale event, would he give GBP money that could instead go to himself, 50, and the TMT crew? My feeling is he would not. Mayweather's about money first. If he can make more of it, and be confident in that process, I can't see him cutting Schaefer and Co. any more checks.
I expect it will be spring 2013 when we find out, though. Floyd will have time to look everything over and make the right move when the time comes. It might be Golden Boy. And it might not.