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Richard Schaefer stays at Golden Boy

Updated: April 11, 2012, 7:01 PM ET
By Dan Rafael | ESPN.com

Golden Boy Promotions CEO Richard Schaefer, who helped found the powerhouse promotional company and has negotiated some of boxing's biggest deals, agreed to his own on Wednesday -- a long-term contract extension to remain as the company's lead executive.

Terms were not disclosed, although Schaefer does own a small percentage of the Los Angeles-based company.

"I am thrilled to have Richard commit to a long-term contract extension with Golden Boy, as he is not only my trusted chief executive ...

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