Richard Schaefer poised for boxing return following Golden Boy settlement
Ex-Golden Boy CEO Richard Schaefer is free for a return to boxing after settling the lawsuit with Oscar De La Hoya’s company following his controversial exit last year.
The former lawyer, who helped De La Hoya build Golden Boy Promotions into a promotional super-power upon formation in 2002, decided to leave his post on the back of a public fallout with De La Hoya which then led to legal action.
Schaefer and De La Hoya have now agreed to move forward and avoid dragging their heels in the courts as Golden Boy continue their massive roster shake-up since the split. GBP recently announced the signing of Mercito Gesta, Yoshihiro Kamegai and a whole host of young contenders in their bid to compensate for the loss of some high profile names.
Al Haymon’s close ties to Schaefer have seen De La Hoya miss out on working with Danny Garcia, Adrien Broner, Deontay Wilder and Marcos Maidana, among other star names as GBP replenish their stock for the future.
Pound for pound king Floyd Mayweather Jr. is another expected to move away from Golden Boy in 2015 as Haymon gears up to rubberstamp a huge deal with NBC to showcase his considerable stable of fighters with the network.
It means another major player will enter the sport to challenge the likes of Golden Boy, Top Rank and Main Events at the top end of boxing, whilst some are speculating the Schaefer will now be part of a possible merger between Haymon and Mayweather Promotions.
An announcement on the future of Haymon’s stable is expected this week.