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Golden Boy CEO Richard Schaefer Resigns

Golden Boy Promotions suffered a major one-two punch last night when the boxing promotion company’s CEO Richard Schaefer resigned and pound-for-pound pay-per-view champion Floyd Mayweather dropped the company as his promoter.

Schaefer, who formed Golden Boy with De La Hoya in 2002, resigned last night after reports of a simmering disagreement with the former world boxing champion, according to ESPN.com. Schaefer helped make Golden Boy one of the leading promoters in boxing and negotiated the two biggest PPV boxing fights in history – the 2007 De La Hoya-Mayweather fight and the 2013 Mayweather-Canelo Alvarez bout.

Schaefer also negotiated Mayweather’s current six-fight PPV deal with Showtime.

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R. Thomas Umstead serves as senior content producer, programming for Multichannel News, Broadcasting + Cable and Next TV. During his more than 30-year career as a print and online journalist, Umstead has written articles on a variety of subjects ranging from TV technology, marketing and sports production to content distribution and development. He has provided expert commentary on television issues and trends for such TV, print, radio and streaming outlets as Fox News, CNBC, the Today show, USA Today, The New York Times and National Public Radio. Umstead has also filmed, produced and edited more than 100 original video interviews, profiles and news reports featuring key cable television executives as well as entertainers and celebrity personalities.