The Associated Press

Oscar De La Hoya’s main partner in Golden Boy Promotions is leaving the company because of a dispute that involves rival promoter Bob Arum and Floyd Mayweather Jr.

Richard Schaefer, who has served more than a decade as chief executive officer of the boxing company, issued a statement Monday saying it is time to move on to other opportunities.

Schaefer’s exit comes after months of speculation over a battle raging with De La Hoya over the future of Golden Boy. Schaefer has served as the de-facto promoter for Mayweather for several years, and is widely expected to be involved in future Mayweather fights in some capacity.

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