Leonard Ellerbe has officially stepped down as CEO of Mayweather Promotions, with Richard Schaefer, the former Golden Boy Promotions CEO, stepping into the role, as announced by Floyd Mayweather Jr.
In an Instagram post, Mayweather expressed heartfelt gratitude for Ellerbe’s leadership and dedication. Ellerbe, who has been a key figure since the early days of Mayweather’s fighting career, decided to leave the position to spend more time with his family.
The announcement, though preceded by rumors, still came as a surprise since Ellerbe had been the only CEO of Mayweather Promotions until now. Schaefer’s return to a prominent role in boxing promotion also caught many off guard. Schaefer, who was with Oscar De La Hoya at Golden Boy from 2000 to 2016, has since launched Ringstar Sports and Probellum with not the best results. However, his previous experience promoting some of Mayweather’s biggest fights has established a solid working relationship with him.
Schaefer commended Mayweather not only for his in-ring achievements but also for his significant influence outside the ring. He pointed out Mayweather’s extensive global brand and strong social media presence, seeing a prime opportunity to expand that brand within and beyond boxing. Schaefer, a Swiss national with a background in banking, is keen to merge his business acumen with Mayweather’s talent scouting and career insights.
Looking forward, Schaefer is enthusiastic about the future of Mayweather Promotions and boxing as a whole. He sees promising opportunities in working with Turki Alalshikh, chairman of Saudi Arabia’s General Entertainment Authority.
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