Floyd Mayweather Announces Big Change for Mayweather Promotions

Floyd Mayweather has announced via his Instagram account that Leonard Ellerbe has resigned as CEO of Mayweather Promotions. The post from Mayweather announces that Ellerbe will leave his role, with immediate effect with former Golden Boy Promotions CEO Richard Schaefer taking over the role.

Big Change Announced at Mayweather Promotions

Leonard Ellerbe Leaves Mayweather Promotions

The announcement from Mayweather explained how Ellerbe would be exiting his role from the organisation with immediate effect. The statement read:

“Mayweather Promotions would like to extend our deepest gratitude to Leonard Ellerbe for his exceptional leadership and unwavering dedication over the years,” the Instagram post read. “Leonard has been an integral part of our team, contributing to numerous business endeavours that have played a pivotal role in the success of Mayweather Promotions.

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“After years of hard work and dedication, Leonard has made the heartfelt decision to step down as CEO to spend more time with his family and loved ones. We have the utmost respect for his decision and are incredibly grateful for his leadership that has helped shape Mayweather Promotions into the thriving organization it is today.”

Richard Schaefer Joins

The news of Ellerbe’s departure came as somewhat of a shock, but Schaefer was involved in the promotion of some of Pretty Boy’s biggest fights, thus making him a sensible replacement. He was an integral part of Golden Boy from 2000 to 2016 and went on to launch Ringstar Sports and Probellum.

Schaefer spoke to BoxingScene about the deal: “He’s a global icon, he’s a global brand.” He continued: “Floyd and me have been friends for a long time, and we have obviously had great success.”

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He added: “I was very fortunate to promote many of his biggest fights, breaking pay-per-view records, and there was always a mutual respect between the two of us.”

Schaefer went on to explain his excitement for the future: “I’m excited about it, to do it with Floyd,” Schaefer said. “I’m very excited as well about where boxing is heading. I think a year ago we were at a crossroads. It looked pretty bleak, let’s be honest. Now, with His Excellency Turki Alalshikh coming in, putting these great fights together – fights we really wouldn’t have seen otherwise – he not only continues to give these top-level fighters opportunities, but what he does as well, which is just as important, if not more important, is he elevates the sport of boxing. He brings in a new fan base to the sport.”