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De La Hoya, Schaefer At Odds Over Future Direction Of Golden Boy Promotions
Published May 5, 2014
AGREE TO DISAGREE: De La Hoya said of Schaefer, “Nobody is going to dismiss Richard. Richard is not getting fired. I don’t want him to leave. No one is telling him to leave. We’ve been letting lawyers deal and handle this situation. ... I feel when our lives are exposed or business is exposed through the media it’s getting out of hand. Maybe it’s time to extend this olive branch. I have nothing against Richard. I have nothing but respect for Richard. If I have to extend an olive branch why not?" De La Hoya added, "I have the choice of taking it personally or not. I’d rather sit down with Richard and talk to him.” In Boston, Ron Borges wrote De La Hoya also “made clear if he has to go on without" Shaefer, he is “confident he can do it.” De La Hoya said, “Outside the ring, I have a whole team. I found Richard many years ago from the banking world. If I have to do it again, that is no problem for me.” De La Hoya added, “[Schaefer] helped me build my career. I’m grateful for that, but this company is . . . named Golden Boy for a reason.” Borges noted De La Hoya was “honest about his well-documented fight with alcoholism and drug abuse and admitted he understood why Schaefer might be hesitant to fully trust him after his many public failings and fall from grace.” Asked if he was surprised to learn that fighters his company promoted were not signed to promotional deals with Golden Boy De La Hoya said, “Was I surprised? Of course” (BOSTON HERALD, 5/4).
TRUST ISSUES: In Las Vegas, Ed Graney wrote De La Hoya “might be the majority stockholder and the face by which most still recognize the business," but his "demons opened the door for Schaefer to continue building the brand to an incredibly successful level.” It will be a “big problem for De La Hoya if he can’t work out those issues that have relegated his relationship with his CEO to emails between attorneys.” Beyond mega-fights such as Floyd Mayweather-Marcos Maidana, Schaefer has “strengthened the company through its lesser-known fighters.” Schaefer is the one those at the MGM, Barclays Center and StubHub Center "trust the most.” It would be “impossible for De La Hoya to spin a positive outcome that anyone would believe should Schaefer ultimately walk away from Golden Boy.” Mayweather “might just hire Schaefer away himself, which would be a typically intelligent business decision from the Mayweather camp.” If the Golden Boy split happens, Arum “would at least help De La Hoya remain relevant” because the two “could make good fights.” Graney: “I don’t see things working out. De La Hoya and Schaefer reportedly shook hands during undercard action Saturday, but when you have a 25-minute news conference beforehand and spend most of it saying you need to do what is best for yourself, reconciliation doesn’t appear a leading option” (REVIEWJOURNAL.com, 5/3).