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Manila: Boxing legend Manny Pacquiao has decided to officially hang up his gloves on Wednesday. The eight-division world champion and Philippines senator on Wednesday announced his retirement from the ring.

Pacquiao finished his 26-year, 72-fight career with 62 wins, eight losses and two draws. Of those 62 wins, 39 were by knockout and 23 by decision. He won 12 world titles.

His retirement from boxing followed a disheartening defeat to Yordenis Ugas in Paradise, Nevada on Augus 21. The younger Cuban boxer, who defected to the United States in 2010, beat Pacquiao by unanimous decision, retaining his WBA welterweight title. It was Pacquiao’s first fight in more than two years.

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“As I hang up my boxing gloves, I would like to thank the whole world, especially the Filipino people for supporting Manny Pacquiao. Goodbye boxing,” the 42-year old said in a 14-minute video posted on his Facebook page.

The 42 year old sees politics as his next career alternative and his aiming to kickstart his career immediately. In his retirement video, he admitted it was a difficult decision but had to be done regardless.

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