Over the last few month it apparently became no secret that the relationship between Oscar De La Hoya (majority owner of Golden Boy Promotions) and his CEO, Richard Schaefer was hanging by a thread. Early yesterday evening that thread finally snapped with the announcement that Schaefer was stepping down and moving on. It should not have come as a surprise, but it may have caught De La Hoya off guard. Veteran scribe, Steve Kim of MaxBoxing.com tweeted: "In talking to someone who spoke with Oscar this very morning, it's clear that Schaefer's announcement even surprised him."
Something else that shouldn't come as a shock or a surprise to readers and followers of the sport is that Floyd Mayweather Jr. is also officially leaving the Golden Boy banner. Shortly after Schaefer announced he was stepping down from his duties at Golden Boy Promotions, the chief executive of Mayweather Promotions, Leonard Ellerbe, confirmed to ESPN that "Absolutely not" would Mayweather Promotions (which has had been working with Golden Boy for the last 7 years) work with Golden Boy again without Schaefer.
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