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article imageOp-Ed: De la Hoya needs to disclose GBP fighters after Schaefer breakup

By Leo Reyes     Jun 5, 2014 in Sports
Golden Boy Promotions (GBP) owner Oscar De La Hoya needs to disclose the official list of fighters who are still under contract with GBP following his breakup with long-time business partner and CEO Richard Schaefer.
Schaefer resigned early this week as CEO of GBP after steering the company for more than a decade of unprecedented growth. The former Swiss banker remains as a major shareholder of GBP.
"After more than ten years with Golden Boy, it is time to move on to the next chapter of my career. This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave."
"I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges." Read more:
The Schaefer-De La Hoya breakup has been attributed to Oscar's efforts in patching things up with business rival Bob Arum of Top rank promotions, a move that Schaefer did not not particularly like.
Schaefer and Arum have been in a cold war of sorts, oftentimes criticizing each other on some business as well as ethical issues that usually lead to breakdown of negotiations.
Schaefer is particularly concerned about De La Hoya's efforts to do business again with Bob Arum's Top Rank Promotions.
Last April, Schaefer told the Los Angeles Times: “I’ve given Bob several opportunities, and a leopard never changes his spots,” Schaefer said. “With Oscar, it’s sort of like, one day he hates him, the next day he loves him, the next day he rips him, then he loves him again.
“That’s OK, they can play those games. But what I’m doing, I’m running Golden Boy, and I think I’m doing a pretty good job, having built it into the leading boxing promotion company in the world. Last year was an all-time record year, and it did not involve Bob Arum or HBO. I’m proud of what I’m doing and I want to continue doing it.”
De La Hoya has floated the idea of pitting his fighter Canelo Alvarez against Manny Pacquiao which is one of the reasons he is meeting with Arum. Seemingly Schaefer is aware that Alvarez is a Golden Boy fighter and De La Hoya can negotiate on his behalf, unlike the other fighters who are reportedly signed up with Al Haymon but not with GBP.
Schaefer may have resented dela Hoya's plan about the possible fight between Alvarez and Pacquiao as he reminded him that he is still the CEO of the company.
Oscar de la Hoya with Manny Pacquiao
Oscar de la Hoya is slated to fight Manny Pacquiao on Dec. 6 in Las Vegas
Photo by ericrichardson
“Last I checked, I was CEO,” Schaefer said. “Unless Oscar wants to change that. … I’ve been running Golden Boy since the beginning. If he wants to change that, since he’s the majority shareholder, and decides he wants to fire me, I can’t stop that.”
Now that Schaefer has left the company, it is important for De La Hoya to take an inventory of fighters who are under contract with GBP for future match up with Top Rank fighters as there are unconfirmed reports that most of the fighters in the GBP stable are signed up with Mayweather's adviser Al Haymon and not with GBP.
One of the fighters who may be included in the shortlist of opponents for Pacquiao's next fight is Danny Garcia, who is reported to be under contract with Al Haymon and not with GBP.
If De La Hoya is serious about his plan to stage big fights pitting Top Rank with GBP fighters, he should first find out if indeed he is still in control of his fighters who may have signed up with Al Haymon and not with GBP.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com
More about oscar de la hoya, Boxing, Manny Pacquiao, Floyd mayweather, danny garcia
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