GBP's Schaefer: We can work with 50 Cent


Posted at Jul 27 2012 07:44 PM | Updated as of Jul 28 2012 04:12 AM

MANILA, Philippines – Golden Boy Promotions (GBP) CEO Richard Schaefer claimed there’s no animosity regarding 50 Cent’s arrival into the boxing business.

The rapper, whose real name is Curtis Jackson, has reportedly signed up Floyd Mayweather Jr. and several other boxers into his The Money Team (TMT) Promotions.

But Schaefer didn’t seem worried about it.

"I think it's terrific for 50 Cent to get involved in boxing, because he brings a different audience, the hip-hop world and so on, to this sport. I think it's terrific. I certainly wish him good luck. We know each other, we respect each other. I like him and he likes me...whenever we're together. I wish him good luck. This is great for boxing," Schaefer told

During his last 6 fights, Mayweather had to work in tandem with Oscar de la Hoya’s GBP since his Mayweather Promotions doesn’t have a license.

With the emergence of TMT Promotions, which has a New York promoter's license, Mayweather might cut his ties with Golden Boy.

Schaefer, however, maintained that Golden Boy has a good working relationship with Mayweather.

He said the controversial boxer earned so much while working with GBP.

"I have a great relationship and friendship with Floyd and I'm sure you saw the Fortunate [50] where he is number one [for the highest earning American athlete]. The fact is, I think over the last couple of years or so, he's made $200 million dollars,” said Schaefer.

“I am very confident in who we are, what we do and how we go about it. And so I'm not really [concerned] with all of these stories out there, all of these people who said all sorts of things. We'll deal with it when we'll deal with it," he added.