By . Mike Dawes . Floyd Mayweather Jr. has cut his ties to Golden Boy Promotions following Richard Schaefer's departure as chief executive of the company. Mayweather has never made a secret of his dislike for Golden Boy president Oscar De La Hoya who he has worked with since the pair fought in 2007. The junior middleweight and welterweight champion only worked with Golden Boy because of his close relationship with Schaefer, but also co-promoted his fights through his own Mayweather Promotions. Fresh start: Floyd Mayweather Jr. has left Golden Boy Promotions after Richard Schaefer's departure . Association: Mayweather had been co-promoted by Oscar De La Hoya's company since their fight in 2007 . Happier times: Mayweather (left) with promoter Schaefer (centre) and Saul Alvarez at a press conference last year . Mayweather's split decision victory over De La Hoya set the all-time pay-per-view record wth almost 2.5 million subscriptions and Golden Boy stand to lose millions in revenue as a result of his departure. Mayweather is next expected to enter the ring on September 13 after recently extending his career-long unbeaten streak to 46 with the defeat of Marcos Maidana on May 3. Following Schaefer's departure on Monday, the former Swiss banker released a statement outlining the reasons behind his decision. 'After more than 10 years with Golden Boy, it is time to move on to the next chapter of my career,' Schaefer said. 'This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. 'I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges.' Rumours have suggested that Schaefer could be set to join Mayweather Promotions or launch a new company which will co-promote Mayweather fights, among others, in the way Golden Boy did. Partners: De La Hoya and Schaefer's relationship had been reportedly deteriorating for some time . Body blow: Mayweather's decision to quit Golden Boy could cost the company millions in revenue . Undecided: Schaefer is yet to confirm what his next move will be but it could involve working with Mayweather again .
Golden Boy co-founder Richard Schaefer quit company on Monday .
Floyd Mayweather Jr. followed Schaefer by leaving Golden Boy .
Mayweather does not get on with Golden Boy chief Oscar De La Hoya .
Mayweather is expected to fight again in September 2014 .
By . Mike Dawes . Floyd Mayweather Jr. has cut his ties to Golden Boy Promotions following Richard Schaefer's departure as chief executive of the company. Mayweather has never made a secret of his dislike for Golden Boy president Oscar De La Hoya who he has worked with since the pair fought in 2007. The junior middleweight and welterweight champion only worked with Golden Boy because of his close relationship with Schaefer, but also co-promoted his fights through his own Mayweather Promotions. Fresh start: Floyd Mayweather Jr. has left Golden Boy Promotions after Richard Schaefer's departure . Association: Mayweather had been co-promoted by Oscar De La Hoya's company since their fight in 2007 . Happier times: Mayweather (left) with promoter Schaefer (centre) and Saul Alvarez at a press conference last year . Mayweather's split decision victory over De La Hoya set the all-time pay-per-view record wth almost 2.5 million subscriptions and Golden Boy stand to lose millions in revenue as a result of his departure. Mayweather is next expected to enter the ring on September 13 after recently extending his career-long unbeaten streak to 46 with the defeat of Marcos Maidana on May 3. Following Schaefer's departure on Monday, the former Swiss banker released a statement outlining the reasons behind his decision. 'After more than 10 years with Golden Boy, it is time to move on to the next chapter of my career,' Schaefer said. 'This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. 'I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges.' Rumours have suggested that Schaefer could be set to join Mayweather Promotions or launch a new company which will co-promote Mayweather fights, among others, in the way Golden Boy did. Partners: De La Hoya and Schaefer's relationship had been reportedly deteriorating for some time . Body blow: Mayweather's decision to quit Golden Boy could cost the company millions in revenue . Undecided: Schaefer is yet to confirm what his next move will be but it could involve working with Mayweather again .
Promotions. Fresh start: Floyd Mayweather Jr. has left Golden Boy Promotions after Richard had been co-promoted by Oscar De La Hoya's company since their fight in 2007 . Happier expected to enter the ring on September 13 after May 3. Following Schaefer's departure on Monday, La Hoya and Schaefer's relationship had been with Mayweather again .