Long time CEO of Mayweather Promotions, Leonard Ellerbe has stepped down from his position and stepping into his shoes would be former Golden Boy Promotions CEO Richard Schaefer.
In a message posted to Mayweather’s Instagram account, the undefeated Mayweather; a five-division champion and founder of Mayweather Promotions said Ellerbe would be leaving his role with the organization, apparently effective immediately.
“Mayweather Promotions would like to extend our deepest gratitude to Leonard Ellerbe for his exceptional leadership and unwavering dedication over the years,” the Instagram post read. “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.”
Despite the existence of rumors about the imminent departure of Ellerbe, who had been an adviser to Mayweather dating back to early in his fighting career and who is the only person to have held the title of Mayweather Promotions CEO, the news of his exit still came as something of a surprise, probably given how active he was during the Davis - Martin presser.
Ellerbe has always been a protuberant figure in the Mayweather Promotions set up and it would be interesting to see how things look like in his absence.
Equally astonishing is the man who replaces Washington native Ellerbe : Schaefer worked with Oscar De La Hoya and Golden Boy from 2000 to 2016, went on to launch boxing promotions Ringstar Sports and Probellum.
But having worked with Mayweather on some of his biggest fights, Schaefer steps into his new role having already developed a great bond with the " Money Man ".
Schaefer was upbeat about taking up the role and was full of positive words for Mayweather:
“He’s a global icon, he’s a global brand,” Schaefer said of Mayweather. “He has, like – what? – 30 million Instagram followers. To put that in perspective, that’s twice Tom Brady’s. That just shows you the kind of reach Floyd has".
Schaefer, a Swiss national with a banking background, a highly sought after finance expert and phenomenal founder in the promotional boxing world with about forty years of combined experience, is highly optimistic about this new venture.
He applauded the inroads being made by Turki Alalshikh and expressed interest in working with the Saudi Minister moving forward.
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