Drama is in the air over at Mayweather Promotions — at least so it would appear from a unexpected turn of events. Just a couple of hours ago Floyd Mayweather’s Instagram page had a new post announcing that one-time Golden Boy promoter Richard Schaefer has now taken the role of CEO at his promotional company, with longtime associate Leonard Ellerbe stepping down.
“Mayweather Promotions would like to extend our deepest gratitude to Leonard Ellerbe for his exceptional leadership and unwavering dedication over the years,” the post read. “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.”
Mayweather, who’s often had public feuds with the company’s biggest star in Gervonta Davis, would also post a story stating that this weekend’s fight between Davis and Frank Martin has been canceled (no other official confirmation on that front), with Davis posting this response on X.
“Floyd is a bitter bitch.”
Floyd is a bitter bitch
— Gervonta Davis (@Gervontaa) June 14, 2024
It’s also not immediately clear as to what this whole supposed shake up is about over at Mayweather Promotions as Ellerbe was just as the press event for this weekend’s PPV card representing the company, and had earlier this week denied he’d be leaving the company, but we’ll try to provide more information as details emerge.