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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