Golden Boy hits Schaefer with $50 million arbitration suit

If Al Haymon and Richard Schaefer were planning on starting their own promotional company, well they had better think again. Golden Boy has filed an arbitration suit against Richard Schaefer in the amount of $50 million dollars in damages. Details of the lawsuit were unclear but Golden Boy President Oscar De La Hoya was not pleased to find out that many of the fighter's that were fighting under the "Golden Boy" banner were not under contract with Golden Boy. The lawsuit is believed to attack that, and some behind the scene issues that may never come to light.