Leonard Ellerbe has left his position as CEO of Mayweather Promotions, raising questions about the company’s future.
Ellerbe presided over the company’s growth during Floyd Mayweather’s career. He helped promote some of the biggest fights, including Mayweather vs. Pacquiao. He has also presided over Gervonta Davis ’ career, making him a PPV star. He is promoting Davis’ fight with Frank Martin on Saturday, which will be his last fight. The news was a surprise since Ellerbe had earlier denied reports that he would be leaving. This has increased speculation that he was fired.
Ellerbe’s Future
“Man, I don’t listen to none of that stuff. I’m doing what I do. I’m doing what I do. [There is] no [truth to any of that],” Ellerbe said
The news is a blow, given the uncertainty surrounding PBC. They have recently signed a TV deal with Amazon Prime Video, as they have their third PPV on the weekend. There is also an increasing number of fighters leaving the PBC. Canelo Alvarez, Terence Crawford, Deontay Wilder, Subriel Matias, Rey Vargas and Elvis Rodriguez are some of the big names who have left. The PBC also do not have a strong foothold with the Saudis, unlike Matchroom Boxing and Queensbury Promotions.
Richard Schaefer
Mayweather has responded by hiring Richard Schaefer. He is the ex-CEO of Golden Boy Promotions, having left the company in 2014. He would then set up his own promotional company, Ringstar Sports, in 2016. Schaefer has experience in making the big fights, as he helped put on Mayweather vs. De La Hoya. Although there are worries over the next steps, Schaefer was ready for the challenges ahead.
“Excited for this new journey! Let’s go break some more records,” Schaefer said
Mayweather Responds
“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,” Floyd Mayweather
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