A week after officially launching his presidential campaign in the Philippines, Manny Pacquiao walked away from the sport that helped make him one of the world’s most influential figures.

Pacquiao announced his retirement from boxing in a video entitled, “Good bye boxing,” via his Facebook page Wednesday morning.

“Boxing has always been my passion,” Pacquiao stated during the 14-minute, 20-second video, which included various highlights from his illustrious, 26-year pro career. “I was given the opportunity of representing the Philippines, bringing fame and honor to my country every time I entered the ring. I am grateful for all of my accomplishments and the opportunity to inspire the fans.”

Pacquiao proceeded to thank many of the people who helped him attain superstar status in the sport, including longtime trainer Freddie Roach, former promoter Bob Arum and adviser Al Haymon. The iconic ex-champion became emotional when he spoke of what the sport and his prideful Filipino people have meant to him.

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

“Thank you for changing my life, when my family was desperate. You gave us hope. You gave 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. I will never forget what I have done and accomplished in my life. … I just heard the final bell.”

Pacquiao’s retirement announcement came 5½ weeks after Yordenis Ugas upset him in their 12-round fight for Ugas’ WBA “super” welterweight title. Ugas replaced Errol Spence Jr. on approximately 11 days’ notice because Spence suffered a damaged retina while training and underwent surgery.

The Cuban-born Ugas (27-4, 12 KOs) clearly out-boxed an aged Pacquiao (62-8-2, 39 KOs) and won a unanimous decision August 21 at T-Mobile Arena in Las Vegas. Pacquiao has a rematch clause in his contract, but he apparently will not exercise that right.

The 42-year-old Pacquiao literally fought his way out of extreme poverty to become a world champion in a record eight weight classes. He held world titles in parts of four decades and became the oldest boxer to win a welterweight title when, at 40, he edged then-unbeaten Keith Thurman by split decision to win the WBA “super” 147-pound crown in July 2019 at MGM Grand Garden Arena in Las Vegas.

The Filipino legend made hundreds of millions of dollars along the way, most notably from his 12-round, unanimous-decision defeat to rival Floyd Mayweather in a May 2015 bout that generated more revenue than any event in boxing history. Pacquiao has donated a considerable amount of his fortune to impoverished people in his home country.

He turned a lot of his attention to politics in his native country more than a decade ago. Pacquiao was a congressman for six years and has been a senator for the past five years.

If Pacquiao wins the Philippines’ presidential election May 9, he obviously would’ve been unable to train for fights had he wanted to continue his boxing career.

Though he is perceived as a decided underdog seven months before the election, presidential terms in the Philippines last six years. If Pacquiao were to win, his term would end when he is 49.

Nothing could stop him, of course, from unretiring if Pacquiao loses the presidential election.

Pacquiao announced September 19 that he accepted the Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) party’s nomination in his home country’s upcoming presidential election.

Keith Idec is a senior writer/columnist for BoxingScene.com. He can be reached on Twitter @Idecboxing.