Fight Opinion Radio: Steve Kim on mutual assured destruction between Oscar De La Hoya & Richard Schaefer
By Zach Arnold | June 5, 2014
Richard Schaefer, former CEO of Golden Boy
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Time length of this week’s show: 34 minutes (16 MB MP3)
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The divorce between Oscar De La Hoya & Richard Schaefer over Golden Boy officially happened on Monday with Schaefer resigning as CEO. However, he will remain a shareholder in Golden Boy. Floyd Mayweather, hours later, announced that he would no longer work with Golden Boy. Why is Schaefer maintaining his shares in Golden Boy? Steve Kim of Maxboxing (@stevemaxboxing) says there’s more to the story than the public knows and that a brutal legal battle may about to commence in Los Angeles.
If you have not read Steve Kim’s past articles on this topic, head over to Maxboxing right now and start reading.
Steve says that Schaefer’s resignation may have been a pre-emptive strike against litigation from Oscar De La Hoya for violating his fiduciary duty as Golden Boy CEO. On what grounds? Accusations & allegations of Schaefer promoting fighters under the Golden Boy banner who were not under contract to Golden Boy but rather under contract to Al Haymon. On this episode of Fight Opinion Radio, Steve breaks down how Oscar De La Hoya lost control of Golden Boy and whether or not Oscar will be able to find a new CEO with the kind of financial & negotiating muscle that Schaefer brought to the table.
Will Schaefer & Al Haymon, in conjunction with Leonard Ellerbe & Floyd Mayweather, create a UFC-style promotional company? Will Showtime back the project? Is Haymon a promoter or a manager and could he be subject to arbitration with any fighters licensed by the California State Athletic Commission?
Plus, what benefits can Golden Boy bring to Bob Arum? Steve explains why Arum is the happiest man in boxing to see Schaefer on the sidelines. How much advice is Top Rank giving Oscar in going after Schaefer? And where does the Main Events lawsuit against Al Haymon fit into the legal puzzle? The most fascinating story in boxing for the next 18 months may be happening outside of the ring.
To Zack Nelson for his past & present support of Fight Opinion Radio.