Comments Thread For: Richard Schaefer Officially Departs From Golden Boy

[RSBonos]

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

TR was throwing SMS a bone, since they are a joke promotion.

[alexguiness]

Anyway you slice it up the sport of boxing is better without Richard Schaefer.

[Kagami Taiga]

Anyway you slice it up the sport of boxing is better without Richard Schaefer.

That is a personal opinion. With that said, It isn't immediately clear Schaefer is done with the sport of boxing. He has enough friends in high places and contacts to do his own thing.

[fenixbb]

Okay in a nutshell the main problem was and it will always be money, money, greed, power and money. That is why the best fights never happend or will never happen, catch weight ****, betrayal because of money, power, influence and anything. But as long GBP and TR can sell their fights or events (money is flowing) they will keep deliver the same thing or match ups over and over and over again.

[Dr Rumack]

Can't wait for Schaefer's 'tell all' interview with Kevin Iole. You'll almost be able to hear the violins playing in the background.

[RlCKY]

Aren't these executive types usually tied down to companies with contracts to prevent instances like this?

It's hard to imagine Oscar, being the majority shareholder and owner, wouldn't lock down the guy who is making all of the moves.

Perhaps he has an "out" clause in his contract.

Also interesting is his intentions to keep shares in the company. Where else would he have a place in boxing where he wasn't conflicting his own interests?


There is a lot at play here, more than what and why this is going on.

Ultimately, when it comes down to it, when the people up top are having trouble, the little people (fans) end up being the ones getting **** on.

[DoktorSleepless]

Kevin Iole hints at Golden Boy being unprofitable.

But part of Schaefer's success came at a cost, though, and the full price of that won't be known for many years. He partnered closely with Haymon and came to favor a heavily athlete-centric business model in which the fighter, such as Mayweather, gets the overwhelming share of the money.

The move made Mayweather rich beyond his wildest dreams – he's been the highest-paid athlete in the world for the last three years, and likely will be again in 2014 – but Mayweather is a unique case with no comparables in boxing.

A promotional company is a business, just like a restaurant or a car dealership or a grocery store. If one, or several, of the employees wind up making 95 percent or more of all of the money, the business won't be sustainable.

[-PBP-]

Aren't these executive types usually tied down to companies with contracts to prevent instances like this?

It's hard to imagine Oscar, being the majority shareholder and owner, wouldn't lock down the guy who is making all of the moves.

Perhaps he has an "out" clause in his contract.

Also interesting is his intentions to keep shares in the company. Where else would he have a place in boxing where he wasn't conflicting his own interests?


There is a lot at play here, more than what and why this is going on.

Ultimately, when it comes down to it, when the people up top are having trouble, the little people (fans) end up being the ones getting **** on.

In Schaefer's case he is a founding shareholder AND a CEO. He probably has a shareholder agreement and an employment agreement that keeps him married to GBP for a number of years.

The reason he keeps shares is to make sure that he still benefits from the company's success. If he tries to compete he will be destroying the value of his own investment and there could be a long legal battle.

Plus as a shareholder he most likely has voting rights. And since he's a founder his stake is probably large. If he were to start a competing company, he could use his voting powers to sabotage GBP in the best interest of his own company. It makes no sense.

It's all speculation at this stage though but I think its clear that a lot of questions are still out there.

[Mr. Philadel]

After months of internal bickering between Golden Boy Promotions President Oscar De La Hoya and Golden Boy CEO Richard Schaefer, a resolutions appears to have been reached between their lawyers.

Schaefer has announced that he is officially gone from Golden Boy.
[Click Here To Read More]

[badnewsbrown]

So now we have to deal with 3 divisions. **** has got worse.