(AP)Los Angeles, CA (June 2, 2014)– Oscar De La Hoya’s main partner in Golden Boy Promotions is leaving the company because of a dispute that involves rival promoter Bob Arum and Floyd Mayweather Jr.
Richard Schaefer, who has served more than a decade as chief executive officer of the boxing company, issued a statement Monday saying it is time to move on to other opportunities.
Schaefer’s exit comes after months of speculation over a battle raging with De La Hoya over the future of Golden Boy. Schaefer has served as the de-facto promoter for Mayweather for several years, and is widely expected to be involved in future Mayweather fights in some capacity.
Richard Schaefer released this statement. “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.”
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