HomeNewsBusinessBoxingUnited Kingdom

Haye teams up with boxing kingpin Schaefer in new venture

Former heavyweight boxing champion David Haye has joined forces with ex-Golden Boy Promotions chief executive Richard Schaefer to launch a new promotions entity in the UK market.

Hayemaker Ringstar will seek to form a portfolio of boxers including current world champions and the most exciting rising talent in the UK. The first fight to be promoted by Hayemaker Ringstar will be Haye’s heavyweight clash with fellow Brit Tony Bellew, a co-promotion with Matchroom Boxing, at London’s O2 Arena on March 4.

The initiative marks Schaefer’s latest venture following his return to the sport in June. Schaefer last year launched a new boxing promotional company entitled Ringstar Sports with the intention of creating a team that will form a new global force in the sport.

UK newspaper the Daily Mail said Hayemaker Ringstar is holding talks with talks with commercial broadcasters ITV and Channel 5, as well as media company UKTV, in a bid to secure a broadcast partner for the new venture.

Haye said, according to the Daily Mail: “Together, we are creating a new kind of promotions entity. Throughout the history of boxing, the fighter has worked for the promoter, the core values of Hayemaker Ringstar will turn this on its head. We will work for the fighter.

“This shift will impact an incredible sport in a hugely positive way. Hayemaker Ringstar will be (renowned) for discovering amazing young talent, nurturing, empowering, and helping them to become global stars.

“The promoters who have dominated the British scene until now have done a good job. But with Richard's unrivalled track record coupled with my first hand insight understanding the needs of a fighter through the evolution of their career Hayemaker Ringstar provides fighters with the perfect environment to maximise their potential, both in the ring and commercially.”

Schaefer was at the centre of a bitter split with his close friend, business partner and majority shareholder in Golden Boy, Oscar De La Hoya, in June 2014. In January 2015, Golden Boy president De La Hoya reached a settlement on the $50m (€47.8m) arbitration case filed in June 2014 against Schaefer.

Under the agreement, De La Hoya severed his links with a host of leading fighters that he had been promoting on a fight-by-fight basis from the stable of powerful managerial figure Al Haymon, in return for financial compensation.

Schaefer, the only chief executive in Golden Boy’s history following its formation in 2002, resigned in June 2014 and denied the accusation of breaching fiduciary duty to the company, a claim that De La Hoya made in filing the arbitration.

Under the terms of his parting of ways with Golden Boy, Schaefer signed a non-compete clause and gave up his ownership share of the company. The clause expired in the summer of 2015, with the former Swiss banker returning to the sport with Ringstar.