Lem Satterfield

Leonard Ellerbe: Floyd Mayweather Jr.’s done with Golden Boy

The CEO of Floyd Mayweather Jr.'s promotional company, Leonard Ellerbe, told ESPN.com on Monday that the sport's No. 1-ranked pound-for-pound fighter will "absolutely not" continue working with Golden Boy Promotions after Richard Schaefer announced his resignation from Golden Boy earlier in the day.

Ellerbe could not be reached by RingTV.com for an immediate comment.

"We have a great working relationship with Richard Schaefer and that will never change. Richard is a good friend and a great businessman and an excellent promoter," said Ellberbe.

"Richard will have an impact in anything that he decides to do, a tremendous impact. He built that company from the ground up and did a phenomenal job. We've had a very close relationship for a number of years and worked hand-in-hand on a number of great fights."

Although former ring rival Oscar De La Hoya is President of Golden Boy, Mayweather and Ellerbe have always praised their working relationship with Schaefer, the former CEO of Golden Boy, as being critical to their mutual success.

Reached by RingTV.com, Schaefer declined comment on the development.

An online report by Forbes Magazine estimated that Mayweather's exclusive six-fight agreement with Showtime — his fourth in the agreement scheduled to happen on Sept. 13 at The MGM Grand in Las Vegas against an opponent to be determined — could be worth a guaranteed $250 million to Mayweather.

Mayweather's base salary of $73.5 million over the course of his unanimous decision victories against Robert Guerrero and Canelo Alvarez made him the highest-paid athlete in 2013, according to ESPN The Magazine's annual Top 25 list.

With last month's majority decision over Marcos Maidana, Mayweather pocketed a guaranteed $32 million for the third fight, matching the amount he earned by vanquishing Guerrero in May of last year, as well as for his unanimous decision over Miguel Cotto in May 2012.

Mayweather made a career-high $41.5 million purse for September's win over Alvarez, the latter of which grossed an all-time record $150 million. Mayweather-Alvarez surpassed the $136 million for Mayweather's split-decision over De La Hoya in May of 2007, which dethroned De La Hoya for the WBC’s junior middleweight belt.

"Mayweather Promotions will continue to promote Floyd's fights and Floyd will continue to put on the biggest fights in boxing. I have a tremendous team and staff and we continue to expand year by year and we're ready to go," said Ellerbe of Mayweather, who made his first-ever appearance on Showtime Pay Per View when he beat Guerrero.

"Richard just put in the resignation, and I'm not going to speak on what Richard might do next. That is for Richard to say. But Richard will have a tremendous impact on whatever he decides to do and wherever he goes. We always welcome smart leaders, but I don't know what his future is."

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