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Richard Schaefer Returns To Boxing
The former Golden Boy Promotions CEO was in the past responsible for promoting some of boxing’s biggest fights and now he’s started a new promotional company of his own.
The former Swiss Banker had fallen out with long time friend and business partner Oscar De La Hoya in the past that prompted an extended hiatus from the sport, which saw a non-competition clause activated in his old contract which expired last summer.
Some had thought he would return then, others thought he might join up with Floyd Mayweather at Mayweather Promotions, or even with Al Haymon’s PBC venture, but as reported by Dan Rafael of ESPN neither will be the case – as Schaefer has launched himself as a new player in the boxing promotional market in the US.
The name of his company is Ringstar Sports and it looks like Schaefer will be looking to sign up talent and TV deals for his new roster very soon.
To those who remember a lot of the success that Floyd Mayweather enjoyed on pay per view in the past when working with Golden Boy Promotions, many credit Schaefer as the driving force behind the promotional success of some of these massive nights for boxing.
Time will tell if he can replicate it again, but I wouldn’t bet against it. Competition is always welcome and the news of Schafer’s return can only be a positive thing for boxing.