Manny Pacquiao retires from boxing as he runs for president in the Philippines

Manny Pacquiao is officially hanging up the gloves. The 42-year-old boxer, widely considered one of the best in his sport, announced his retirement via social media on Wednesday, just over a week since announcing his bid for president in the Philippines. 

Pacquiao won world titles in eight different weight divisions – a feat no other boxer has achieved. Some of his most memorable fights include those against Juan Manuel Marquez,  Miguel Cotto and Floyd Mayweather Jr., which in 2015 was boxing's richest fight ever. "PacMan," as he was also known, finishes with a record of 62 wins, eight loses and two ties.

In a 14-minute video showing highlights from his legendary 26-year career, Pacquiao got emotional saying goodbye to the sport. 

"It is difficult for me to accept that my time as a boxer is over. Today I am announcing my retirement. I never thought that this day would come," he said.

Pacquiao was raised dirt poor in the Philippines by a single mom, and used boxing as a way to emerge out of poverty. 

"Thank you for changing my life when my family was desperate," he said. "You give us hope. You give me the chance to fight our way out of poverty. Because of you I was able to inspire people all over the world. Because of you I have been given the courage to change more lives." 

Pacquiao, who is a senator in the Philippines, is now turning his focus to another fight – campaigning to become the next Filipino president. He accepted the nomination of his faction of the PDP-Laban political party at its national convention earlier this month. As Philippine President Rodrigo Duterte's six-year term ends, Pacquiao pledged to campaign on fighting poverty and corruption.