By Chris Williams: Golden Boy Promotions has settled their legal issues with former Golden Boy CEO Richard Schaefer, according to Lance Pugmire of the LAtimes.com. As a result of the settlement, Golden Boy Promotions will be losing Adrien Broner, Danny Garcia and Daniel Jacobs to manager Al Haymon.
Golden Boy will still keep Amir Khan, Lucas Matthysse and Leo Santa Cruz, even though all three of them are now being advised by Haymon. They’re still under contract with Golden Boy at this time. Whether that will stay that way once their contracts end is unclear.
Golden Boy will also lose heavyweight knockout artist Deontay Wilder, says Fightnews.
Schaefer will be out of boxing for a still unspecified time. After that it’s unknown if he’ll join up with Haymon and Mayweather Promotions to return as a promoter. He could be an ideal fit as the CEO of Mayweather Promotions, especially with Haymon’s huge stable of fighters.
It would be a tremendous company with Schaefer at the head. Mayweather has a great relationship with Haymon and Schaefer, so it’s a situation that could work out well for all of them if Schaefer comes on board at a later date.
“Golden Boy confirms to me they’ve settled with Richard Schaefer,” Pugmire said on his twitter. “Al Haymon will take @AdrienBroner @DannySwift and Danny Jacobs and others and move on. De La Hoya will keep @leosantacruz2 @AmirKingKhan and @LucasMatthysse because they’re under existing contracts. And Richard Schaefer will be on an undetermined hiatus before perhaps joining forces with Haymon and @FloydMayweather. No comment from RS. Maidana also leaving Golden Boy with Haymon.”
De La Hoya was reportedly unhappy with the situation with him having to get approval from Haymon in order to put together fights. This eventually led to De La Hoya and Schaefer bumping heads. It was soon after that Schaefer left the company. From there De La Hoya and Schaefer had litigation that led to today’s settlement.
Schaefer did a great job as the CEO of Golden Boy, and the company appeared to be doing well up until De La Hoya and Schaefer had their disagreement.
Schaefer could be out of boxing for 1-2 years.
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