Leonard Ellerbe steps down as CEO of Mayweather Promotions
Leonard Ellerbe has resigned from his position as CEO of Mayweather Promotions and is already succeeded by former Golden Boy Promotions CEO Richard Schaefer, Floyd Mayweather Jr. announced on June 13.
In a message posted on Mayweather’s Instagram social media account, former fighter and founder of Mayweather Promotions said Ellerbe would be exiting his role with the organisation, effective immediately.
The post read, “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 endeavours 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.”
Founded in 2007, Leonard Ellerbe has been the only ever CEO of Mayweather Promotions, which also promotes forms of live entertainment, including sporting events, live musical and theatrical events, and film and television productions.
Richard Schaefer told BoxingScene on Thursday, “Floyd and me have been friends for a long time, and we have obviously had great success.
“I was very fortunate to promote many of his biggest fights, breaking pay-per-view records, and there was always a mutual respect between the two of us.
“He’s a global icon, he’s a global brand. He has, like – what? – 30 million Instagram followers. To put that in perspective, that’s twice Tom Brady’s. That just shows you the kind of reach Floyd has. He really is a brand. And I think there’s a tremendous opportunity to expand that brand within boxing and outside of boxing as well.”
Schaefer is a Swiss national who initially began his career in banking, “Floyd can speak with these fighters because he knows the ins, the outs, the ups and downs, the good, the bad and the ugly.
“I’m going to be spending a lot of time with Floyd, sitting down, going through all of that and putting together the right plan to continue to build these fighters up. He has the best eye for talent. He knows how to find talent. You see how his cohort Gervonta Davis, how he built him up. He just has a tremendous eye for talent, which is something I think is so important because many promoters don’t really focus anymore on building up the young fighters – they just focus on the bigger fights.”
“I’m very excited as well about where boxing is heading. I think a year ago we were at a crossroads. It looked pretty bleak, let’s be honest. Now, with His Excellency Turki Alalshikh coming in, putting these great fights together – fights we really wouldn’t have seen otherwise – he not only continues to give these top-level fighters opportunities, but what he does as well, which is just as important, if not more important, is he elevates the sport of boxing. He brings in a new fan base to the sport.”
BBN would like to wish Leonard Ellerbe all the best in his retirement.