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MANILA, Philippines – Boxing icon Manny Pacquiao, an eight-division world champion, has announced his retirement from the sport.

According to The Associated Press, the 42-year-old, who is also a senator in the Philippines, took to social media Wednesday to share the news in a 14-minute video.

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“To the greatest fans and the greatest sport in the world, thank you!” he wrote in an accompanying tweet. “Thank you for all the wonderful memories. This is the hardest decision I’ve ever made, but I’m at peace with it. Chase your dreams, work hard, and watch what happens. Goodbye boxing.”

During his 26-year career, Pacquiao claimed 12 world titles, the AP reported. He won 62 matches and lost eight; two ended in draws.

The news came just over a week after Pacquiao announced he will run for president of the Philippines in the upcoming May 2022 election, according to the AP.

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“I boldly accept the challenge of running as president of the Philippines,” he tweeted Sept. 19. “We need progress. We need to win against poverty. We need government to serve our people with integrity, compassion and transparency. The time is now. I am ready to rise to the challenge of leadership.”

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The Associated Press contributed to this report.