Richard Schaefer (pictured), the former CEO of Golden Boy Promotions, is replacing Leonard Ellerbe at the helm of Mayweather Promotions. Here is the official announcement: "Mayweather Promotions would like to extend our deepest gratitude to Leonard Ellerbe for his exceptional leadership and unwavering dedication over the years. Leonard has been an integral part of our team, contributing to numerous business endeavors that have played a pivotal role in the success of Mayweather Promotions. 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.

 

"As we move forward, we are excited to announce that Mayweather Promotions will be joining forces with Richard Schaefer, a highly sought after finance expert and a phenomenal founder in the world of promotional boxing, with over forty years experience combined. Together, we will expand our presence by establishing Mayweather Headquarters in Los Angeles. Our goal is to elevate Mayweather Promotions to global success, supporting fighters worldwide and assisting them in making rewarding business decisions that will benefit them well beyond their boxing careers. We look forward to this new chapter and the continued global success of Mayweather Promotions."