“I Just Don’t Know”: Bob Arum Remains Unsure About Mayweather Promotions After Richard Schaefer Replaces Leonard Ellerbe as CEO

Where is Mayweather Promotions heading? Legendary boxing promoter Bob Arum remains uncertain. Just the other day, Leonard Ellerbe stepped down as CEO after a decade-long tenure. In a swift move, Floyd Mayweather announced on social media that former Golden Boy CEO Richard Schaefer, who has previously collaborated with Mayweather, has taken over the role.

Ellerbe had held the post for the better part of Mayweather’s boxing career, so the update came as a complete shock. But an even bigger surprise was Schaefer’s return to prominence. Schaefer, who began his career in the banking sector, worked with Oscar De La Hoya from 2010 to 2016 before beginning promotions like Ringstar Sports and Probellum with mixed results. So, reacting to the news, Arum just spilled his thoughts in an interview with Fight Hype.

Bob Arum fails to recollect any fighter Mayweather Promotions promotes

Since beginning his career as a boxing promoter back in 1966, Bob Arum, a former tax attorney, has partnered with some of the sport’s most prominent figures. He’s orchestrated legendary matchups like Evander Holyfield vs. George Foreman and Sugar Ray Leonard vs. Thomas Hearns. Even today, Arum holds a significant sway in the boxing world, known for his authoritative insights. When queried about the recent shifts in upper management at Mayweather Promotions, Arum’s expert opinion promises valuable insights into the company’s future.

Arum said, “I don’t know how that’s going to work out. I don’t know who Mayweather promotes now. I just don’t know…”

Speculating on whether the change would impact collaboration with Mayweather Promotions for a potential fight, Arum asserted that there ought not to be an “impediment” to finalizing the fight. Nevertheless, the head of Top Rank also emphasized the implausibility of merely stating their intention to cooperate, particularly given the absence of any collaboration in the past five years—or possibly ever, as far as Arum is aware.

Meanwhile, Floyd’s uncle Jeff Mayweather has offered his perspective on Leonard Ellerbe’s decision to step down as CEO.

Jeff Mayweather suggests there’s no animosity

With Ellerbe’s swift departure from his position, speculation has surged regarding potential discord between Floyd Mayweather and him, particularly in light of the company’s recent challenges. Adding to the intrigue, Mayweather Promotions predominantly features a roster of emerging boxers, among whom Curmel Moton stands out as the most recognizable, a situation that poses limitations in securing lucrative marquee matchups.

Regardless, Jeff told The Mayweather Channel there are no such issues between the duo, rather “I just think that it was just time for him to move on”. However, when questioned by the reporter about whether PBC’s influence contributed to Ellerbe’s departure, the veteran trainer speculated that PBC might have had a minor role, considering Ellerbe’s history of working with Al Haymon to arrange fights. Nonetheless, he steadfastly maintained that whatever the circumstances, it did not sour relations between Mayweather and Ellerbe.

It’s uncertain whether Schaefer assuming Ellerbe’s role would attract more talent and lead to significant fights within the promotion. However, one thing remains clear: Mayweather Promotions must significantly elevate their efforts to compete on par with Top Rank, PBC, and Matchroom. As for whether Mayweather Promotions is headed for doom, that conclusion appears premature and speculative given the unpredictable nature of the boxing industry.