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SBD/June 3, 2014/People and Pop Culture
Richard Schaefer Resigns As Golden Boy CEO, Unclear On Future Plans
Published June 3, 2014
WHAT'S THE IMPACT? ESPN.com's Rafael wrote Schaefer's exit "figures to dramatically alter the landscape of the boxing business." It was "not unexpected," but the "timing was a bit surprising -- a few days before De La Hoya's induction" on Sunday into the Int'l Boxing HOF. Golden Boy under Schaefer's guidance "became a powerhouse." Schaefer was the "point person in multiple record-breaking promotions, developed close relationships with HBO and later Showtime, closed an output deal for a boxing television series on Fox Sports 1, worked with numerous mainstream sponsors and made a deal to serve as the exclusive promoter of fights at the Barclays Center in Brooklyn, New York, while also maintaining a close relationship with the MGM Grand in Las Vegas." Schaefer said, "I wish it didn't end like this. I spent a lot of time with this company and I'm very proud of what I have accomplished. There's nothing to be ashamed about" (ESPN.com, 6/2). YAHOO SPORTS' Kevin Iole noted many "were quick to hail" Schaefer's resignation as "the end to boxing's ugly and counter-productive 'Cold War.'" Perhaps Schaefer's departure after a feud with De La Hoya "will signify blue skies ahead for fans." But it is more likely that Schaefer's resignation is "going to spark many more legal battles." Things may "get worse well before they get better" (SPORTS.YAHOO.com, 6/2).
Check out of the Resource Guide Live listing for Golden Boy Promotions.