"Absolutely not," Ellerbe said when asked if they would work with Golden Boy minus Schaefer.
Mayweather himself said before the first fight with Maidana -- when Schaefer's future at the company was in question -- that the only reason he worked with Golden Boy was because of Schaefer. Mayweather does not have a good relationship with Golden Boy president and co-founder Oscar De La Hoya, who has taken the reigns of the day-to-day business of the company.
But the decision to remain with Golden Boy came down to business. Mayweather Promotions is not licensed in Nevada, and although it could have hired somebody else, Golden Boy is one of the biggest promotional companies in the world, has loads of experience with Mayweather events, the MGM and the sponsors, not to mention that Maidana is promoted by Golden Boy.
Following Thursday's final news conference for Saturday night's Canelo Alvarez-Erislandy Lara fight at the MGM Grand, De La Hoya, who is promoting the Showtime PPV card, addressed the Mayweather situation.
"There's no reason for Floyd and I not to be working together," he said. "We don't have to be best of friends. But we don't have to be enemies or rivals or have issues. I'm glad that we came to terms and made this fight happen. I'm sure he could have chosen to use somebody else (as his promoter).
"The fact that he understood and the fact that he gave us the opportunity -- it's a business, and behind his decision was common sense. We bring something to the table that is very valuable. We know how to promote fights."
When asked why the change of heart, Ellerbe said: "My job is to maximize all the revenues, benefits and opportunities for Floyd Mayweather. That is a very strict business principle. At the end of the day, I have a lot of damn work to do. Any time that you're running the business and you're putting on major, major events and generating this kind of revenue, it's by any means necessary."
Added De La Hoya: "Getting Mayweather with Golden Boy Promotions is a powerhouse. We will do whatever we can and as much as we can to make this event once again a success. But most importantly, I have to take my hat off to Floyd Mayweather for picking once again Maidana, for giving us the rematch. He didn't have to. It was a tough fight. It really was.
"Physically, it was a very difficult fight. So he didn't have to give Maidana the rematch, but he did. You have give credit and respect where it's due."
A five-city tour to promote the fight -- with all stops open and free to the public -- kicks off on Monday with news conferences in New York in the afternoon followed by an evening one in Washington, D.C. They will be in Chicago on Tuesday afternoon, San Antonio on Tuesday evening and Los Angeles on Thursday.
The day before the May 3 fight a controversy arose over the kind of gloves Maidana would wear. Mayweather objected to a pair and the Nevada State Athletic commission agreed, but even when the commission signed off on a replacement pair of gloves -- a model considered better for punchers, which is what Maidana is -- Mayweather still objected.
Ultimately, they made a side deal engineered by Al Haymon, the adviser for both Mayweather and Maidana, under which Maidana was paid an additional $1.5 million to switch to the kind of gloves Mayweather approved.
Ellerbe declined to discuss what the contracts for the rematch say as it relates to the gloves but added, "We have a document and if Maidana wants to talk about it, fine. They won't be using no horse hair gloves, but I don't want to get into specifics."