Pacquiao officially declares his retirement

The only eight-weight champion in boxing history Manny Pacquiao (62-8-2, 39 KOs) officially announced that following his recent loss to Yordenis Ugas, he has no intention of returning to the ring and is ending his sporting career.

"Thanks for the great memories. This is the hardest decision I've ever made, but I've come to terms with it. Pursue your dreams, work hard and see what happens. Goodbye boxing," the 42-year-old athlete wrote on social media.

The Filipino returned to the ring in August after a two-year hiatus. Before losing to Ugas, Pacman defeated Keith Thurman to become the oldest world welterweight champion in history.

Pacquiao will now devote himself to a political career. The Filipino recently announced that he will run for president of his country, accepting the candidacy of his party FDP-Laban.