Mayweather Jr announces retirement

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"I have decided to permanently retire from boxing," Mayweather said in a statement. "This decision was not an easy one for me to make as boxing is all I have done since I was a child."

He added: "However, these past few years have been extremely difficult for me to find the desire and joy to continue in the sport."

Mayweather's sudden retirement brings an end to speculation that he was going to face Oscar De La Hoya in a re-match this September. The 31-year-old Mayweather won a split decision against De La Hoya in May 2007, a fight that went down as the richest pay-per-view event in history.

In his last appearance in the boxing ring, Mayweather knocked out Brit Ricky Hatton in December. There had also been talk of a Mayweather-Hatton rematch in England.

Nicknamed "Money Mayweather" and "Pretty Boy," Mayweather won six world boxing championships in five different weight classes. He is the current WBC welterweight champion.

He hangs up his gloves unbeaten in 39 fights, with 25 knockouts.

"I am sorry I have to leave the sport at this time, knowing I still have my God-given abilities to succeed and future multi-million pay-days ahead, including the one right around the corner," Mayweather said.

"But there comes a time when money doesn't matter. I just can't do it anymore. I have found a peace with my decision that I have not felt in a long time."

The colourful Mayweather has also enjoyed numerous exploits outside of boxing, recently competing at WrestleMania XXIX in March. He also competed on the television program "Dancing with the Stars" in the United States and served as the honorary starter for the 92nd Indianapolis 500.