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Richard Schaefer steps down as CEO of Golden Boy Promotions

Schaefer resigns after 10 years as CEO of GBP
Schaefer resigns after 10 years as CEO of GBP
Photo by Isaac Brekken/Getty Images for MGM Resorts

On Monday June 2, 2014 through a press release statement now former CEO of Golden Boy Promotions Richard Schaefer resigned from his position effective immediately.

Since the details of Schaefer’s role with Golden Boy Promotions were not clear neither were his plans for the future outlined we can only speculate and assume. Over the next week it will be fun for fans to do just that.

However this may not be that big of a news story considering recent power struggle between Schaefer and Oscar De La Hoy, the promotions founder. The writing was on the wall.

Of course the biggest question will be will Schaefer work with Mayweather Promotions? Probably not in the near future.

Will Schaefer leave the sport of boxing all together?

Considering his ego and distain for Top Rank and Bob Arum, he will figure out a way to stay around in attempt to burry Arum while De La Hoya “buries the hatchet” with Arum.

So now what about the Cold War?

In an attempt to get Top Rank and Golden Boy Promotions working together it was Oscar De La Hoya who extended the olive branch. It was Richard Schaefer that refused to work with Arum. Now it looks like boxing’s Cold War as produced its’ first casualty.

What is next for Schaefer and GBP?

let me know on twitter @richarddeocio