Floyd Mayweather Jr. announced on Thursday that Leonard Ellerbe will no longer serve as the CEO of Mayweather Promotions. Ellerbe’s sudden departure from the organization has stirred up conversations in the boxing world. In addition, Swiss boxing promoter and former CEO of Golden Boy Promotions Richard Schaefer was immediately announced as the new CEO. This sudden development has sparked interest among fans. Amidst this, Floyd’s uncle, Jeff Mayweather, has shed some light on what may have led to Leonard Ellerbe’s separation from the company. 

Ellerbe has been with Mayweather Jr. since the boxer was making a name for himself initially in his career. The former five-division boxing champion shared a post about Ellerbe’s retirement on Thursday and wrote a heartfelt caption for him. The reason stated was that Ellerbe wanted to retire and give more time to his family and loved ones. However, Jeff Mayweather has nudged towards another reason that may have contributed to his departure from Mayweather Promotions.

Was Leonard Ellerbe sailing on two boats?

Jeff Mayweather is a former IBO super featherweight champion and now works as a boxing trainer at the Mayweather Gym alongside Floyd’s father. While talking about Ellerbe’s departure on their channel, he said, “I think Leonard is still in a good position, and I don’t think that it was any animosity between Floyd and Leonard. I just think that it was just time for him to move on.”

When asked if Ellerbe’s connection with the PBC has led to his retirement, the veteran trainer said, “I guess it could have played a part. I mean, if you are in between promotions and you’re working with one and you’re not working with the other. I mean yeah, so I mean, but, I don’t think there was no, like I said, I don’t think there was no animosity or anything. Because even Floyd always spoke as you know, he would always say that you know, when Al Haymon has fights you know. Because he can always get his fighters on Al Haymon’s shows.”

For those who aren’t privy to the inner workings of the Mayweather Team, Al Haymon, who owns the PBC used to be Floyd’s manager for a long time. Leonard Ellerbe thus shares a good rapport with both Mayweather and Al Haymon. Ellerbe is also an important part of Al Haymon’s PBC.

Ellerbe working with both PBC and Mayweather Promotions might have created a problem. However, the veteran trainer also mentioned that there is no animosity between Mayweather and Ellerbe. Apart from this, there has been another speculation that has made fans wonder about what is happening in Mayweather Promotions. Take a look at what matchmaker and boxing insider Rick Glacier has to say about this situation. 

Get off the sinking ship

Even before it was announced that Leonard Ellerbe would be retiring from the position of CEO, Rick Glaser had shared a post on X that shed some light on the subject. Glaser stated that many boxers have left Mayweather Promotions, hinting that there is a problem with the company’s functionality. 

PBC is reported to have been facing funding issues, and with Mayweather helping out Al Haymon, even Mayweather Promotions is slowly becoming a sinking ship according to Rick Glaser. Additionally, Rick Glaser had also stated that Al Haymon owes around $100 million to investors. As per Glaser, this may have been a reason why Leonard Ellerbe left the company. What do you think about it? Share your thoughts in the comments below.