The now former CEO of Mayweather Promotions has been somehow in the middle, as ‘Cash’ Mayweather officially announced Ellerbe’s departure on Instagram on Thursday and now, his role in the company has been assumed by the former CEO of Golden Boy Promotions, Richard Schäfer
While there were rumors of the same thing happening, the update came as a shock to everyone. Ellerbe has been Floyd Mayweather’s close confidant since the beginning of his boxing career, but things appear to have changed as Mayweather Promotions has fallen in recent years. Amid all this, Floyd’s uncle Jeff Mayweather has shed light on how Ellerbe handled the tumultuous relationship between Davis and Mayweather.
It was a very interesting way to deal with the situation
While Mayweather has often slyly criticized Davis since the boxer left his promotions company, things had gotten so bad that Davis had even started rumors about Floyd being stuck in Dubai, while the duo began openly bashing each other on social media platforms. So, in response to the question, Jeff acknowledged that it was, in fact, extremely difficult for Ellerbe to deal with the situation. However, he noted, “Many times friends want you to choose a side.”
However, it seems that Ellerbe chose to be smart with his actions, as Jeff said, “But I mean, Leonard is smart enough not to take sides and just stayed in business.” Meanwhile, Schaefer is mulling over the possibility of taking over Ellerbe’s old position.
Schaefer, who began his career in the banking sector, worked with Oscar De La Hoya and Golden Promotions from 2000 to 2016 and then started the Ringstar Sports and Probellum boxing promotions with mixed results. However, since he has promoted some big pay-per-view fights with Mayweather, he accepted the job while being in the former five-division champion’s good books.
