Why did Jon Jones' new manager Richard Schaefer fall out with Oscar de la Hoya?

Jon Jones now has a new advisor in Richard Schaefer, a veteran boxing promoter who has worked with some of the biggest names in pro boxing. However, one episode of his career in boxing that attracted attention from the media was his feud with Oscar De La Hoya.

Richard Schaefer was first associated with Oscar De La Hoya as a financial advisor. He helped De La Hoya handle his finances and the two developed a merry friendship.

Richard Schaefer and Oscar de la Hoya have a laugh on stage before the press conference #MayweatherCotto pic.twitter.com/ffmbVEKO

— Golden Boy (@GoldenBoyBoxing) March 1, 2012

Oscar De La Hoya installed Richard Schaefer as the CEO of his own promotion company, which was intended to compete with Top Rank and Don King's promotions. Problems between Schaefer and Oscar De La

Hoya surfaced when the former was executing his role as the CEO of Golden Boy Promotions.

As reported by ringtv.com, problems between Richard Schaefer and Oscar De La Hoya sprang up due to differences in business ideas. Moreover, Oscar intended to do business with Top Rank's Bob, something Schaefer would not agree to. Speaking about the same, Richard Schaefer said:

"His [Oscar De La Hoya's] vision is something I’ve tried many times, which is to make peace with Bob Arum. But I came to realize that Bob is the way he is. As they say a leopard never changes his spots. I tried it so many times and I gave up. His entire career that’s what Bob Arum thrives on is to have these feuds. It used to be with Don King for a long time. I just don’t appreciate being treated that way, being called names, being disrespected and basically at the turn of a light switch you think the next day everything is fine. It just doesn’t work for me."

OSCAR DE LA HOYA SAYS RICHARD SCHAEFER'S RESIGNATION TOOK HIM BY SURPRISE: "I DIDN'T SEE THIS COMING" http://t.co/bIOwsKZAT0 #fighthype

— FIGHTHYPE.COM (@fighthype) June 20, 2014

UFC President Dana White comments on Richard Schaefer and Jon Jones' new partnership

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Former UFC light-heavyweight champion Jon Jones has been out of action since February 2020. On countless occasions, 'Bones' has stated that he wants to shift up to the heavyweight division and face the UFC heavyweight champion, but for the correct price.

So far, the UFC has declined to meet Jon Jones' demand, and Dana White has publicly said that 'Bones' has asked for an unfeasible amount of money. How does Richard Schaefer's entrance alter the scenario? We don't know yet, but here's what Dana White had to say about the new partnership:

"I like Richard, I've known Richard for a long time and obviously, he built Golden Boy. He built that company. He knows what he's doing, he's a smart guy. I like and respect him and if we can get something done we will."

Do you think Richard Schaefer will be able to act as the catalyst for Jon Jones' shift up to heavyweight? Let us know in the comments section!

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