When Richard Schaefer announced his resignation as CEO of Golden Boy Promotions earlier tonight, ESPN's Dan Rafael predicted that the move would "dramatically alter the landscape of the boxing business." A couple of hours later, Floyd Mayweather, who has worked with Golden Boy since his bout with Oscar De La Hoya in 2007, has decided to follow in the footsteps of Schaefer and cut ties with the company as well.
When Mayweather's chief executive Leonard Ellerbe was asked by ESPN if Money would stick around if Schaefer wasn't in the picture, Ellerbe said, "Absolutely not." And that shouldn't come as a surprise. For the last seven years, Floyd and his team have only maintained a working relationship with Golden Boy solely because of their "close friendship" with Schaefer.
Going forward, Money, who expects to step back into the ring on Sept. 13, will now fight under Mayweather Promotions.