Oscar De La Hoya Is Making a Comeback…As a Promoter

Despite appearances, Oscar De La Hoya has had a rough time since retiring as a boxer in 2009. The owner of one of boxing’s biggest promotion companies has been struggling with an alcohol and drug addiction for the past several years. Oscar has stated he currently has it under control, and judging from the upcoming fights his company will be promoting, it seems like Oscar is back, and he is back strong.

From the conception of Golden Boy Promotions to its peak as one of the biggest promotion companies in the boxing world, Richard Schaefer was always there. Schaefer, a Swiss man who left the banking world to join Oscar on his new adventure as an entrepreneur, was essential in growing Golden Boy Promotions to the company it is today.

Last year, however, after months of speculation, it became official that Richard Schaefer had resigned as CEO of the company he built, leaving Oscar De La Hoya with in a fix. Despite being the owner, it had been Schaefer who had always been there for Golden Boy Promotions, and not Oscar De La Hoya, who spent a great deal of his time dealing with his addiction.

In addition to the bad news of Schaefer’s resignation, Oscar De La Hoya accused the man of backstabbing him by not re-signing fighters whose contracts were expiring, a move that favored boxing promoter Al Haymon.

It seems like Oscar is back, and he is back strong.

“We let so many contracts expire. After a few, you’re thinking to yourself, ‘Hmm, well OK, maybe he’s too busy. Maybe he’ll get to it next week.’ But after 10, 15 fighters, you’re like, ‘What’s happening here?’” the Golden Boy stated recently to the LA Times.

Haymon owns Premier Boxing Champions promotions, which has deals with open air TV networks such as NBC, ABC, and CBS. There is speculation that Schaefer could join Premier Boxing Champions, as he has stated in the past that the company needs a “face and a voice.”

“When he came to…resign, he was so nervous, came in shaking. He says, ‘Oscar, I don’t feel comfortable around here anymore,’ gave me the papers and left…just like that.’ Then, I just saw everything. Everything just flashed. No fighters. This was all staged. All a master plan.” Oscar added to the LA Times.

So it was like this that a recovering De La Hoya had to take control of his company, something he has done slowly but steadily. In November, Golden Boy will be co-promoting Cotto vs. Canelo (the most popular fighter signed with Golden Boy Promotions), and a month earlier in October, he will also be promoting the fight between his young up-and-coming Canadian boxer David Lemieux and KO king Gennady Golovkin.

Oscar De La Hoya trusts that he will be able to grow his boxing stable once again.

Golden Boy Promotions might not currently have as many fighters as it once did under Schaefer, but Oscar trusts that he will be able to grow his boxing stable once again.

“I have an eye for talent. No other promoter in the world has laced up the gloves like I have. Nobody,” De La Hoya said to the LA Times. “We built a lot of fighters. We can do it again. This time, I’m going to do it my way: be smart and sign them all and be sure we’re on top of re-signing them.”

Golden Boy is back, and although he won’t be putting on any gloves this time, he will sure put up a fight to stay relevant in a sport with an uncertain future.