Comments Thread For: Richard Schaefer Officially Departs From Golden Boy

[Mitchell Kane]

De La Hoya's attorney, Bert Fields, released a statement late Monday afternoon saying, "Golden Boy has a written contract with Richard Schaefer that ends March, 2018.

The company intends to enforce that contract."

So let's see what comes of this.

[Cinci Champ]

Someone correct if I'm wrong ... But if a CEO gets fired, he also loses his shares in the company.

And Schaefer apparently still has shares in GBP.

he didnt get fired

[Cinci Champ]

It depends on how he acquired his shareholdings.

If Schaefer acquired his shareholding from GBP as compensation and isn’t vested and has substantial risk of forfeiture, then termination of his employment would cause him to lose some or all of the value of his stock.

He said he will continue to be a shareholder of GBP, so my guess is he acquired his stocks from GBP with vested condition or he bought the shares with his own money when he joined GBP.

ya but if he said ill quit if i can keep some my shares oscar would have been all over that

[RSBonos]

lol at all these confused Floyd fans...sure it's Top Rank that's dying and Arum is the snake...meanwhile Richard just got terminated for stealing fighters from his own promotion and doing poor business.

[nycsmooth]

Who replaces him?? DLH is not smart nuff 2 go it alone...

[-Antonio-]

This is great news for boxing. I highly doubt that the other guys under Haymon are going to just follow suit with Floyd. That would be ridiculous. The fights that can be made now are endless. I also feel like Oscar was upset at the lack of HBO dates. I'm sure he feels some type of way towards HBO considering his history as a fighter. Also the undercards for these big fights will be even better.

[RSBonos]

For people claiming that Schaefer is going to join Floyd/Haymon. Why would Schaefer go up against a company in which he still apparently has a huge stake in? And then be doing that for a new company that hasn't been made yet and would be quite the risk to invest in. As a business man that would make no sense for Schaefer. I honestly think he's done with the sport.

and why would Mayweather and even Haymon risk millions to start up a promotional company to try to compete while at the same time not working with anyone else? It doesn't make sense from their point of view.

I can see Mayweather promoting himself (or use on of his people) but as soon as he retires he won't be the one to dump all his money into a promotion and Haymon won't be able to get his fighters the big money as a manager if he turns into a promoter.

Even Oscar had a lot of investors and a sweetheart deal from HBO to start things, the promotional game is cutthroat.

[MC Hammer]

lol at all these confused Floyd fans...sure it's Top Rank that's dying and Arum is the snake...meanwhile Richard just got terminated for stealing fighters from his own promotion and doing poor business.

According to Rafeal, Oscar was trying to work it out with Shaefer no less than 2 hrs before his resignation. This will fail GB, just like trying to work with TR failed SMS

[lutenco]

Who replaces him?? DLH is not smart nuff 2 go it alone...

ahahahahaha OSCAR is not a smart man? ahahahahahah,that's why he is multimillionaire and powerfull businessman.....wow,who are you to say he is not a smart man...DAMN!!!

[Spray_resistant]

ahahahahaha OSCAR is not a smart man? ahahahahahah,that's why he is multimillionaire and powerfull businessman.....wow,who are you to say he is not a smart man...DAMN!!!

Has nothing to do with his crowd appeal as a fighter when he was active......all business smarts I guess huh?