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Floyd Mayweather has ended his partnership with Golden Boy Promotions.
According to ESPN, the boxer announced his exit after the longtime CEO Richard Schaefer stepped down from his position on Monday.
"After more than 10 years with Golden Boy, it is time to move on to the next chapter of my career," Schaefer said in a statement. This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges."
Schaefer's issues with company founder Oscar Del La Hoya were also part of his departure.
Mayweather's promotional company, Mayweather Promotions will continue to promote any future boxing matches.
In his own personal statement, the boxer says that he is grateful for his business partners, but is ready to move forward.
"We have a great working relationship with Richard Schaefer and that will never change," Mayweather's Promotion chief Leonard Ellerb. Richard is a good friend and a great businessman and an excellent promoter. Richard will have an impact in anything that he decides to do, a tremendous impact. He built that company from the ground up and did a phenomenal job. We've had a very close relationship for a number of years and worked hand-in-hand on a number of great fights.
Mayweather Promotions will continue to promote Floyd's fights and Floyd will continue to put on the biggest fights in boxing. I have a tremendous team and staff and we continue to expand year by year and we're ready to go."
Source: ESPN | Photo Credit: So Max O
