The resignation of Golden Boy chief executive officer Richard Schaefer created waves in the boxing world. But will it have any effect on the possibility of making a mega-fight between Floyd Mayweather Jr. and Manny Pacquiao?
Schaefer, who was Golden Boy CEO for 12 years, resigned from his post Tuesday, and Mayweather followed him out the door immediately.
Golden Boy has exclusively co-promoted Mayweather’s fights since 2007, but with Schaefer – a close friend of the boxer’s – out of the picture, this is no longer the case.
But for ESPN.com writer Dan Rafael, mulling the key questions raised by Schaefer’s resignation, this will have no impact on the possibility of a fight between Mayweather and Pacquiao, as the American is not technically a Golden Boy fighter.
“Mayweather remains under contract to Showtime, and is with (boxing power broker Al) Haymon,” Rafael reminded.
Mayweather was never signed to a Golden Boy contract. Instead, he is working with them on a fight-by-fight basis. He has, however, signed a six-fight contract with Showtime, the network rival of HBO.
“Mayweather has also repeatedly said that he would not do business with (Top Rank chief executive Bob) Arum, who recently re-signed Pacquiao to a two-year contract extension,” Rafael pointed out.
“From what I am told, Arum got financial help from HBO in closing the Pacquiao deal, and then pledged loyalty to HBO on Pacquiao fights,” he revealed.
“The two boxers will keep fighting on different networks, and the same problems remain as far as how to split the money and various other issues,” Rafael said. “Bottom line: Still no fight.”
Rafael is quite sure that Schaefer’s resignation will pave the way for Golden Boy and Top Rank to begin working together again, however, as Golden Boy president Oscar De La Hoya recently mended fences with Top Rank’s Arum.
“One of the issues between De La Hoya and Schaefer was De La Hoya’s desire to work with Arum again, and Schaefer’s refusal. With Schaefer gone, it’s only a matter of time until De La Hoya and Arum promote fights together,” said Rafael.
Among the possible fights that can be made now is a showdown between Pacquiao and Mexican star Saul “Canelo” Alvarez, who is under contract with Golden Boy.
Rafael noted that “realistically, it is unlikely,” however.
“Alvarez is on the verge of moving up to middleweight, and Pacquiao, a small welterweight, has talked about moving down to junior welterweight,” he pointed out.
“Besides, after Pacquiao’s tough fight a few years ago with junior middleweight Antonio Margarito, Pacquiao and trainer Freddie Roach said he would never fight that big of an opponent again,” he added.