Mayweather Promotions Announces Major Changes: Leonard Ellerbe Steps Down, Richard Schaefer Takes The Helm

Floyd Mayweather Jr. has revealed that CEO Leonard Ellerbe has stepped down from his position in Mayweather Promotions and has been replaced by Richard Schaefer. This will be a new era, with Ellerbe replaced by former Golden Boy Promotions boss Schaefer.

There had been rumors that Ellerbe was leaving the company, and they were true. When Ellerbe was asked earlier this week if he was departing, he denied that he was.

Holy shit dumb decisions being made by even dumber people lmao, can’t wait to make a video on this one 😂😂

— Oscar De La Hoya (@OscarDeLaHoya) June 14, 2024

It’s unclear whether Schaefer can turn Mayweather Promotions into one of the top companies because they don’t have a large stable. Replacing Ellerbe with Schaefer may produce negligible results without Floyd keeping up with the other large promotional companies, like Top Rank, Matchroom, and Golden Boy.

Mayweather has a big enough fortune to sign a lot of top fighters to make his company a major player, but he would need to invest in and make the right moves by signing fighters that have the potential to become stars.

Floyd did a good job when he signed Gervonta Davis years ago, but the match-making done for him failed to turn him into a huge mega-PPV fighter along the lines of Canelo Alvarez.

Floyd is a bitter bitch

— Gervonta Davis (@Gervontaa) June 14, 2024

Ellerbe’s Departure and Gratitude

“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,” said Floyd Mayweather Jr. on Instagram.

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.”