Floyd Mayweather remains one of the biggest names in boxing and he has now announced a huge change to his promotional company.
Mayweather launched Mayweather Promotions during the latter stage of his professional career, and has helped to guide some big name boxers in recent years.
The most notable of those is Gervonta Davis, who returns to action against Frank Martin on Saturday. He worked with Mayweather for a number of years before the duo appeared to fall out and parted ways.
A key part of Mayweather Promotions was Leonard Ellerbe, who served as the CEO since its launch, but Mayweather has announced that he will be stepping down from the role, with a notable figure already lined up to replace him.
“Mayweather Promotions would like to extend our deepest gratitude to Leonard Ellerbe for his exceptional leadership and unwavering dedication over the years. Leonard has been an integral part of our team, contributing to numerous business endeavors that have played a pivotal role in the success of Mayweather Promotions.
“After years of hard work and dedication, Leonard has made the heartfelt decision to step down as CEO to spend more time with his family and loved ones. We have the utmost respect for his decision and are incredibly grateful for his leadership that has helped shape Mayweather Promotions into the thriving organization it is today.
“As we move forward, we are excited to announce that Mayweather Promotions will be joining forces with Richard Schaefer, a highly sought after finance expert and a phenomenal founder in the world of promotional boxing, with over forty years experience combined.
“Together, we will expand our presence by establishing Mayweather Headquarters in Los Angeles. Our goal is to elevate Mayweather Promotions to global success, supporting fighters worldwide and assisting them in making rewarding business decisions that will benefit them well beyond their boxing careers.
“We look forward to this new chapter and the continued global success of Mayweather Promotions.”
Schaefer is best known for his time working with Oscar De La Hoya at Golden Boy Promotions, where he was hugely involved in promoting some of Mayweather’s previous fights, including the huge showdown with Ricky Hatton back in 2007.
Since parting with Golden Boy, Schaefer has had various roles within boxing, but will now look to hit the ground running in his new position with Mayweather Promotions.
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