Bad Left Hook - Floyd Mayweather, Richard Schaefer leave Golden Boy PromotionsGlobal Boxing News and Commentaryhttps://cdn.vox-cdn.com/community_logos/47131/backingthepack-fave.png2014-06-05T11:12:46-04:00http://www.badlefthook.com/rss/stream/55388552014-06-05T11:12:46-04:002014-06-05T11:12:46-04:00More defections from GBP likely
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<figcaption>Harry How</figcaption>
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<p>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.</p> <p>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. <a href="http://sportsillustrated.cnn.com/mma/news/20140605/oscar-de-la-hoya-golden-boy-promotions/" target="_blank">Chris Mannix of Sports Illustrated</a> 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:</p>
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<p>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.</p>
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<p>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.</p>
<p>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.</p>
https://www.badlefthook.com/2014/6/5/5782636/golden-boy-likely-to-have-further-front-office-defections-afterScott Christ2014-06-04T20:26:48-04:002014-06-04T20:26:48-04:00Oscar: Golden Boy is moving ahead
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<figcaption>Victor Decolongon</figcaption>
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<p>Oscar De La Hoya has released a public statement addressing the departure of CEO Richard Schaefer from Golden Boy Promotions.</p> <p>Golden Boy Promotions owner Oscar De La Hoya released a brief statement today to give the world something official following the <a href="http://www.badlefthook.com/2014/6/2/5774082/richard-schaefer-resigns-from-golden-boy-promotions/in/5538855" target="_blank">resignation of CEO Richard Schaefer</a>, a move that figures to have massive ramifications around the sport, particularly in regards to the U.S. scene.</p>
<p>"Golden Boy Promotions is moving ahead on all fronts," De La Hoya said via press release. "We look forward to continuing and expanding our key position in the boxing world and to providing the public with the very best the sport has to offer."</p>
<p>The biggest question here still remains what becomes of the Al Haymon-advised fighters who are signed with Haymon and have been fighting under the Golden Boy banner. Among that group you have Adrien Broner, Amir Khan, Marcos Maidana, Lucas Matthysse, Andre Berto, Lamont and Anthony Peterson, Robert Guerrero, Danny Garcia, Peter Quillin, Shawn Porter, Keith Thurman, Paulie Malignaggi, Erislandy Lara, Gary Russell Jr, Deontay Wilder, Leo Santa Cruz, the 2012 Olympians, and Omar Figueroa, among others.</p>
<p>Of course, De La Hoya has also been speaking openly with his former promoter, Top Rank's Bob Arum, hoping to end the long-standing rivalry between the two companies. Matters are further complicated now that the war has extended so heavily to HBO (where Top Rank has been promoting their fights) and Showtime (which has housed Golden Boy and Mayweather Promotions fighters) over the last year or so, ever since Floyd Mayweather jumped ship to Showtime.</p>
<p>Mayweather, for his part, has also stated <a href="http://www.badlefthook.com/2014/6/2/5774744/floyd-mayweather-leaves-golden-boy-promotions-in-wake-of-ceo-richard-schaefer-departure-pacquiao" target="_blank">he's no longer going to work with Golden Boy</a>, which he has been doing since 2007, despite never being part of their roster. Floyd hasn't had a single fight since then that has not been in association with and mostly promoted by Golden Boy, but it's no secret that Mayweather and De La Hoya are not friendly at all, while Floyd and Schaefer have become quite close over the years.</p>
<p>There are really only a handful of notable fighters -- Canelo Alvarez, Bernard Hopkins, Abner Mares, for example -- who are signed to Golden Boy but are not associated with Haymon. This is all a long way from over, and there's still a lot left to shake out. But Oscar's public statement is that they're moving forward. We'll see.</p>
https://www.badlefthook.com/2014/6/4/5781020/oscar-de-la-hoya-golden-boy-is-moving-ahead-following-schaefersScott Christ2014-06-03T20:00:03-04:002014-06-03T20:00:03-04:00Ellerbe: Canelo only attractive option at GBP
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<figcaption>Ethan Miller</figcaption>
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<p>Leonard Ellerbe says that Floyd Mayweather may do business again with Golden Boy, but their roster lacks many options for his opposition as it stands.</p> <p>With Richard Schaefer's big but totally unsurprising announcement yesterday that he was stepping down as CEO of Golden Boy Promotions, Floyd Mayweather decided to announce his support for Schaefer, as he has long done, and indicated that he was also done doing business with Golden Boy.</p>
<p>Today, though, Mayweather Promotions CEO Leonard Ellerbe said they will be open to doing business with Oscar De La Hoya and Golden Boy again, the problem being more that without Al Haymon's fighters in the Golden Boy stable, GBP really doesn't have many real money options for Mayweather to face, saying that only Canelo Alvarez stands out.</p>
<p><a href="http://ringtv.craveonline.com/news/341589-floyd-mayweather-jr-open-to-rematch-with-saul-alvarez" target="_blank">From RingTV.com</a>:</p>
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<p>"The door is open for future business with Golden Boy but as it relates to September 13, we've got a mega-fight coming up and we're in the planning and preparations stages and we've been that way since the May 3 fight was over," said Ellerbe.</p>
<p>"As far as I'm concerned, the only person that I see in their stable that we can see doing a future fight with where there is big business, that would be against 'Canelo' Alvarez somewhere down the road but we only have a few fights left. We're not sitting around and we've known what we're going to do since the May 3 fight."</p>
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<p>Mayweather (46-0, 26 KO) has done disappointing PPV numbers for two of his three fights with Showtime, and the current plan is to fight three more times and call it a career, as per his deal with Showtime and CBS Sports. There are really not many guys out there who can be guaranteed to help Floyd sell a million -- Robert Guerrero and Marcos Maidana both fell short, while Alvarez, of course, was popular enough by himself and enough of an intriguing matchup as an unbeaten, younger, bigger man, that he and Floyd set some records and came close to setting all of them.</p>
<p>This situation is all far from resolved, of course, since it's only officially been a day. But it's worth noting that Showtime currently has just three shows (non-ShoBox) scheduled: June 21 at Stub Hub, July 12 for Canelo, and September 13 for Floyd. Where are their fights going to come from? Who will promote them? It's a whole ordeal.</p>
https://www.badlefthook.com/2014/6/3/5777466/ellerbe-mayweather-and-golden-boy-could-do-business-but-canelo-isScott Christ2014-06-02T23:59:12-04:002014-06-02T23:59:12-04:00Floyd Mayweather leaves Golden Boy
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<figcaption>Ethan Miller</figcaption>
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<p>It didn't take long after former-CEO Richard Schaefer to leave Golden Boy before Floyd Mayweather followed in his footsteps. Oscar De La Hoya's promotional company will now have no involvement in Mayweather's next fight.</p> <p>Oscar De La Hoya is not having a good night. Just hours after Richard Schaefer, CEO of his company Golden Boy Promotions, decided to step down from his post, De La Hoya's most profitable star followed suit.</p>
<p><a target="_blank" href="http://espn.go.com/boxing/story/_/id/11024103/floyd-mayweather-vows-stop-working-golden-boy-promotions-ceo-richard-schaefer-resigns">ESPN reports</a> that Floyd Mayweather Jr. elected to leave Golden Boy as a direct result of Schaefer's departure, and because of personal issues with De La Hoya, will not work with Golden Boy now that Schaefer is no longer involved.</p>
<p>"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."</p>
<p>Mayweather Promotions and Golden Boy co-promoted every one of Floyd's fights since his record-setting battle with De La Hoya in 2007. After nine fights and years of bitter exchanges between Mayweather and De La Hoya, the biggest partnership in boxing has finally ended.</p>
<p>This news does dampen the hopes for a potential superfight between Mayweather and Manny Pacquiao which had flared up once again at Schaefer's announcement. Given that Schaefer, more than De La Hoya, was vocally opposed to working with Pacquiao's promoter Top Rank, fans might have entertained the idea that the much anticipated bout could finally take place, but speculations that Schaefer will continue to play a role in Mayweather's fights lead one to believe that the Money Team won't be asking Top Rank for their business any time soon--again.</p>
<p>These are some seriously big changes in the boxing environment, and just days before De La Hoya's induction into the International Boxing Hall of Fame. The timing should come at no surprise, though. If the endless morass surrounding the Pacquiao-Mayweather situation has taught us anything, it's that the top players really know how to spoil a party.</p>
<p>Keep an eye on Bad Left Hook for more updates as this situation unfolds.</p>
https://www.badlefthook.com/2014/6/2/5774744/floyd-mayweather-leaves-golden-boy-promotions-in-wake-of-ceo-richard-schaefer-departure-pacquiaoConnor Ruebusch2014-06-02T19:01:48-04:002014-06-02T19:01:48-04:00Richard Schaefer resigns from Golden Boy
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<figcaption>Jeff Bottari</figcaption>
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<p>After months of speculation, it's official: Richard Schaefer has left the company he built, Golden Boy Promotions.</p> <p>Richard Schaefer officially tendered his resignation as CEO of Golden Boy Promotions today, <a target="_blank" href="https://twitter.com/danrafaelespn/status/473578072781127682">according to Dan Rafael of ESPN.com</a> and various other sources, with the resignation reportedly effective immediately, making a move that is going to shake up American boxing in a big way.</p>
<p>Schaefer, who had been rather publicly feuding with Oscar De La Hoya, has been expected to be on the way out for months now barring some miracle save of that relationship. That hasn't happened, though, and now we're left with a new dawn for boxing on HBO and Showtime.</p>
<p>Here are the key notes for the time being:</p>
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<li><span>It is believed by most in and around the sport that Schaefer, Mayweather Promotions, and Al Haymon (arguably the sport's most powerful man) will be in some kind of alliance. With Floyd Mayweather himself the real big chip on the table, that should mean that fighters associated with Mayweather and Haymon should be staying on Showtime.</span></li>
<li><span>What that means for Golden Boy fighters and Oscar De La Hoya is another matter entirely. Many if not all of the fighters who are "advised" by Haymon have fought under the Golden Boy banner for years now, but <i>are not signed</i> to actual contracts with Golden Boy Promotions. The question becomes, is Haymon going to work with Schaefer and Mayweather exclusively, or will he still be open to working with what's left at Golden Boy, too?</span></li>
<li><span>On that note, will Golden Boy's remaining fighters be Showtime guys, or will they be heading back to HBO? Oscar and Top Rank's Bob Arum have been speaking lately and both have had good things to say about one another. Could the remains of Golden Boy unite, for lack of a better word, with Top Rank and HBO, leaving Showtime with the potential Mayweather/Haymon/Schaefer group?</span></li>
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<p>For the time being, Schaefer does remain a shareholder at Golden Boy, so whatever transition or change is going to come may not come just yet. Here's his statement:</p>
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<p>"After more than ten 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."</p>
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<p>There are a <i>ton</i> of questions still remaining, and again, this could take a long time to really settle. And who will replace Richard Schaefer at Golden Boy as the CEO? That's another huge question. But the bottom line for right now is that Richard Schaefer is done at Golden Boy Promotions.</p>
https://www.badlefthook.com/2014/6/2/5774082/richard-schaefer-resigns-from-golden-boy-promotionsScott Christ