Schaefer, Mayweather leave Golden Boy

June 4, 2014

ESPN reports on the news of a jolt within the boxing world as Richard Schaefer tendered his resignation from Golden Boy Promotions on Monday.  As a result, Floyd Mayweather left Golden Boy to join up with Schaefer and Al Haymon.

A Michigan newspaper reports that Mayweather will promote his September 13th fight on his own.   Golden Boy had provided promotional assistance to Mayweather fights since 2006.  Mayweather Promotions has co-promoted the undefeated fighter and this will be the first time in 7 years that Mayweather’s company will go at it alone.

The resignation reflects the known tension between a returning Oscar de la Hoya from alcohol rehabilitation and the company’s CEO, Schaefer.  During the Maidana-Mayweather fight hype, de la Hoya made news by calling for Golden Boy to return to work with Top Rank and Bob Arum.   It is widely known that Mayweather does not get along with Top Rank and/or Arum and he has had a less than amicable relationship with de la Hoya.

As Steve Kim of Maxboxing points out, litigation over whether Schaefer breached fiduciary duties as the company’s head could be forthcoming.  What is also interesting is that Schaefer indicated that remains a shareholder of the company.  So, it’s unclear whether he could work for another promotions company as that might be a conflict of interest.

Payout Perspective:

The news of Schaefer and Mayweather’s departure may reflect a shift in power in the boxing business today.  While Golden Boy still has Canelo Alvarez under contract, Al Haymon fighters would seemingly fight under the Mayweather Promotions banner and would thus create another wall from potential fights taking place.  Obviously, all of this is still up in the air but one would think with the news that Mayweather will be promoting his own fight that only Haymon fighters would be on the September card.

77 Responses to “Schaefer, Mayweather leave Golden Boy”

  1. Sampson The One and Only on June 5th, 2014 8:39 AM

    Cotto-Martinez this weekend!

  2. Sampson The One and Only on June 5th, 2014 8:50 AM

    UFC owes $485 million due next June. How will they repay it?

    http://www.zuffainvestoralerts.org/2013/01/zuffa-basic-financials.html

  3. saldathief on June 5th, 2014 8:52 AM

    prediction Cotto Martinez does as well as any UFC ppv in 2014.

  4. saldathief on June 5th, 2014 8:59 AM

    D, not a good idea to threaten people online, you’re an internet dork so you must know that its not only stupid but shows what a total ass clown pansy you really are. Another internet tough guy lmao give me a fucking break son, do you even have hair on your nut sack yet? Im sure you beat up your little sister over use of the family computer but grow up. funny how no one agrees with any of your nonsense on here and we are all MMA fans fuck stick so get real or get lost no one cares what you say and you aren’t convincing anyone either. I guess the UFC is wasting $9.95 a month paying you to post here bahhahahaha

  5. D on June 5th, 2014 9:03 AM

    Fightbusiness, you guys love to lie and exaggerate everything. First off, network tv and basic cable do not have the same amount of people with access. The UFC is also on a network that is new and struggling as a whole. Boxing absolutely aggressively markets their fights on HBO/Showtime, much more so than any mma fight, unless we are talking about boxing after dark and other lower profile fights they have. You guys also ignore that most big ufc fights are on ppv, while many title fights in boxing are on hbo/showtime thus giving them a boost in ratings because they are higher profile fights. Plus, it is not mma’s fault that boxing can’t get a network deal. Just goes to show which sport is gaining in popularity and which is losing in popularity.

    SalDaQueef, prediction, you come out of the closet prior to 2015.

  6. D on June 5th, 2014 9:11 AM

    Where did I threaten anyone?

    A dork? Haha. Says the 40 plus, mullet rocking, board breaker. Talk about pathetic. You geriatric.

    You are the furthest thing from a mma fan. You are a boxing/karate troll who is pissed off that real fighting is closer related to mma and not boxing/board breaking. You’ve never stepped foot in a gym in your life and you are clearly on the boxing welfare to work program which relies on you spewing your lies and boxing propaganda on a mma website. Get Arum’s nuts out of your mouth, you little queen. I guarantee you are a severe fat, diabetic who can’t work a real job, so he just trolls mma websites in order to release his frustration. The only people who agree with your lies and exaggerations are other boxing trolls.

    You’ll notice mma fans almost never do this on boxing websites. It only happens on mma sites because middle aged adult children, boxing fanboys are so threatened by mma. Haha.

  7. Fightbusiness on June 5th, 2014 9:38 AM

    D- About 28-32 million people have access to HBO & Showtime. Its about 90 million for basic cable and about 105 million for network TV. Thats triple the audience potential and even more for Network. When i say agressively promote I’m not talking about Jim Lampley talking about an upcoming fight, I mean billboards things of that nature. Also remember Boxing is on SUPER late like midnight. If main events happened at 9pm you would see a additional spike in ratings. UFC has had many big name fighters on basic cable that havent done great: Machida, Belfort, Evans, Bisping, Sonnen, rarely do they crack 1.5 million. Fox is also a new basic cable network but cmon it should be doing better because the major network is always plugging it. UFC isnt done its just peaked in the U.S and its oversaturated. Get back to one event a month and they’ll do OK about 1.5 million a show on basic 2.5 on network

  8. D on June 5th, 2014 9:52 AM

    HBO/Showtime obviously promotes their ppv fights with much more money, but they still have non stop commercials when they have a fight like Marquez-Alvarado. They promote those fights more than the ufc/bellator does with its tv fights. Boxing comes on super late on the weekends, not during the week typically, so no the ratings wouldn’t make a difference. What time do you think the UFC/Bellator’s main event comes on? It isn’t 9pm, typically around 11:30pm.

    Nearly all of your figures/examples are complete exaggerations. You say those fighters rarely crack 1.5m, okay, how often does ANY boxing fight crack 1.5m? Almost never. How did Stiverne-Arreola do on basic cable-with a much more popular channel like ESPN? How did Klitschko’s fight do on ESPN? 468k. Pathetic.

    It hasn’t peaked in the US at all, they are having a down year ppv’s wise because they lost their two biggest stars and the ppv industry as a whole is down. Wait until Mayweather retires in a year and a half. See what happens to their ppv numbers.

  9. Sampson The One and Only on June 5th, 2014 10:02 AM

    Remember in 2007 when Joe Rogan said after De lahoya and Jermaine Taylor is gone boxing will have no more superstars?

    Now we have yet another moron touting the same exact thing 7 years later. It is simply amazing how small-minded UFC fans are. They are nerds of the highest degree… Not a compliment.

  10. D on June 5th, 2014 10:10 AM

    Sampson=Smell E.

    I never said there won’t be any more stars in boxing. I said that boxing will take a drastic dip in their ppv numbers when Floyd retires. If you honestly can’t see the fact that he is one of the biggest ppv stars of all time, and it is extremely difficult to replace him, you are an idiot.

    MMA fans are nerds? How about WWE fans like yourself? Nothing more pathetic than adult children who think pro wrestling is real.

  11. Sampson The One and Only on June 5th, 2014 10:17 AM

    The funny thing is everybody said the same exact thing about De laHoya, Tyson, etc. “Once they’re gone… Boxing will go down!” Ahahahahahaha

    Somehow these small minded UFC fans never learn. Their gullibility makes it so easy to sell them a crappy product.

    $450 million due next year. Dana sweating bullets

  12. D on June 5th, 2014 10:30 AM

    The funny thing is you are using a time frame that covers nearly 30 years of boxing with only 3 names. So obviously it isn’t very easy for these guys to be replaced. What is even more interesting is that you neglect to realize that when Tyson was in his prime in the ppv game, boxing dominated the ppv industry. They don’t anymore. The last 7 years was dominated by the UFC. The 18-35 demo is more interested in mma than boxing. Also, part of the reason Mayweather can generate those buy rates are because he is arguably the best fighter in the past decade of boxing. He never lost. Had he lost, his numbers would have dipped significantly- look at what happened to Pacquaio’s.

    450m in debt, close to 700m per year in revenue, low overhead, no sweating.

  13. Sampson The One and Only on June 5th, 2014 10:37 AM

    $700 million in Gross Revenue? Hardly… Looking at less than $30 million net.

  14. D on June 5th, 2014 10:43 AM

    Don’t you realize how pathetic you are? You lie about everything. All of your energy goes into trolling a mma website, which is a sport that you don’t like. You use alias accounts so that it appears people are agreeing with you. Really shameless stuff.

  15. Sampson The One and Only on June 5th, 2014 11:27 AM

    Ahahahahahaha!

    This is hilarious. She is so mad… When all else fails. CRY!

    UFC is garbage. It is simply the truth. They will need a SERIOUS bailout next year when they need to cough up the loot.

  16. D on June 5th, 2014 11:39 AM

    Samantha=Smell E

  17. Fightbusiness on June 5th, 2014 1:59 PM

    Daer Lord D- again Boxing rarely cracks 1.5 million viewers because it only has access to 1/3 the audience but it consistantly hits 1 million. Boxing fights on HBO sometimes start at midnight, UFC fights on basic cable absolutely do not. 10pm the latest. Thats a big difference. By the way the Froach fight just got 800,000plus at 4pm. Aerola is garbage and he got one million. Adamek fought on NBC last year at 3pm and got 3 million viewers. No one on god’s green earth knew Klitschko was even fighting including myself and I love boxing. the heavy’s have no stars. Dude gets millions of viewers in Germany and can sell out a stadium. Boxing can get a network deal in a freakin heartbeat. Its just that there are to many promoters so the networks dont know who to deal with. If Top Rank and Golden Boy worked together they’d get a deal tommorow. I dont want a network TV deal. To much pressure and political correctness to deal with. Not worth it.

  18. tops E on June 5th, 2014 2:06 PM

    Ufc keeps comparing itself to.boxing….boxing is in the olympics.boxing has many promotions worldwide making money…boxing is global…and boxing pay is big while ufc pays peanuts

  19. Sampson The One and Only on June 5th, 2014 2:15 PM

    UFC & Dana White spent and continue to spend too much time bad mouthing boxing. It has back fired badly as many boxing fans are done giving the product a chance.

    All my friends who used to get both boxing and UFC events now ONLY get boxing. It is a fad that is waning quickly…

  20. D on June 5th, 2014 3:51 PM

    ESPN has a bigger audience than FS1 does genius. Also, most big boxing matches are on free tv. The biggest mma fights are on ppv. More of your apples to oranges. You guys exaggerate everything.

    You are dead wrong about the time the fights start. First off, most boxing matches on HBO start around 11:30, and most ufc fights, the headliners don’t fight until around 11- 11:30. It isn’t much of a difference. What is a difference though is that ufc fights on tv always have 5 main card fights and the avg for the event is used as a whole for all 5 fights which boxing does not have the same situation. With boxing, you generally only get 2-3 fights at most on tv and they take the avg from that. Seeing how there are many low profile fights on the ufc’s 1st or 2nd fight for the night, that brings the average down. Of course, you ignore this stat.

    Froch did not get 800k live, he did 700k live. Arreolla is a top ten fighter as was Stiverne who is now probably going to fight Klitschko and did not hit a million, he hit 940k- more exaggerations. By the way, when was the last hw boxing ppv? I knew Klitschko was fighting, they promoted it on ESPN all week. Just no one cared though in the US. Good for the German market which is a fraction of the US market.

    Boxing can get a network deal in a heartbeat? HAHAHAHA!! If they could they would do it. The promoters seem to have no problem getting deals with HBO/Showtime. What would be the difference? There is none. They just can’t get a deal done. Their business model would lose money.

  21. D on June 5th, 2014 4:08 PM

    Smell E=Samantha

  22. Fightbusiness on June 5th, 2014 5:22 PM

    D- http://www.boxingscene.com/froch-groves-ii-scores-with-saturday-afternoon-viewers–78575

    At the peak of the fight it hit 830k viewers. Again at 4pm and the casual Boxing fan doesnt even care about Froch. Also remember the fight was reaired a few hours later so even more viewers saw it. Do you honestly believe if Oscar Delahoya and Bob Arum picked up a phone and told a network that they would work in unison for a network deal they couldnt get one? They stay with HBO because working with other promoters for a network deal is exhausting and HBO pays them very well. They also dont have to stress out about getting awesome ratings. A network deal is so not worth it. A basic cable deal would make boxing MASSIVE!! Hbo would never ket it happen. Aerolla is a top ten garbage fighter. Put Andre Berto against Robert Guerrero on ESPN that also does over 1.5 million viewers easy.

  23. D on June 5th, 2014 5:50 PM

    Haha. You guys love using peaks when referring to boxing, but you use averages when talking about ufc numbers. Pure exaggerations. The event when aired live averaged 700k viewers.

    You are clueless. Why would it matter if GB/Top Rank work together in getting a network deal. They don’t work together right now and they both have deals with HBO/Showtime separately. What is your logic? Makes zero sense. You just make things up. It wouldn’t make business sense for them, because they would lose money. That is the key. You act like FOX doesn’t pay the UFC well. 100m per year buddy.

    Where are you from? There are big boxing matches on basic cable now. ESPN is distributing the events now. They just had 2 major hw boxing matches, the Klitschko fight bombed and the Stiverne-Arreola(both top 10) fight did under 1m avg viewers- doesn’t seem too massive to me.

    Delusions.

  24. Fightbusiness on June 5th, 2014 7:14 PM

    D- A Tv deal works for UFC because the networks only has to work with one company and the UFC doesnt have any problems making fights happen on their own. Boxing cant structure a deal likewith network tv because there are too many companies and many of them hate each other. Its hard. Look at how HBO recently dumped Golden Boy. having one Klitscko fight and 1 fight with a average fighter like fatty Aereola isnt exactly getting in the Boxing game.

  25. D on June 5th, 2014 7:53 PM

    I don’t understand this blind spot you are creating. Why would it work fine on premium tv and not regular tv promotions wise? HBO recently dumped GB, yes, and boxing still has fights on HBO!!!! Your argument makes zero sense.

    Fatty Aereola wasn’t the A fighter in the headline, Stiverne was. He is going to fight Klitschko next and if Klitschko isn’t a big enough name for you, it just goes to show how delusional you are. You act like the FOX shows with Browne vs Werdum are superstar headliners. They put their B cards on FOX shows typically. Boxing has almost always all of their stars fight on tv other than Mayweather/Pac, it is very different in mma.

  26. Jason Cruz on June 5th, 2014 9:45 PM

    @jov and @D – no worries guys. Post as much as you like and we’ll try to keep up 🙂

  27. Sampson The One and Only on June 6th, 2014 5:01 PM

    Fight business knows the truth for sure. A network deal for boxing wouldn’t work for the promoters or the networks. No network in their right mind would bid against HBO or Showtime.

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