(Sports Network) - Undefeated WBC welterweight champion Floyd Mayweather Jr. announced his retirement from boxing on Friday, as reported by the Las Vegas Sun. In a prepared statement, the 31-year old cited his dying passion for the sport as his reason for hanging up the gloves.

"I have decided to permanently retire from boxing," the statement read. "This decision was not an easy one for me to make as boxing is all I have done since I was a child. However, these past few years have been extremely difficult for me to find the desire and joy to continue in the sport."

"Pretty Boy" hinted at retirement after his career-defining split-decision victory over Oscar De La Hoya in May of 2007, but the Las Vegas native came back seven months later to pummel previously unbeaten Ricky Hatton in a 10th- round TKO.

Mayweather was scheduled to face De La Hoya in a much-anticipated rematch in September but passed on the guaranteed big payday. Mayweather made headlines outside of the boxing ring over the past year with appearances in ABC's "Dancing with the Stars" and a showcase bout in WWE's famed "Wrestlemania."

Though the finality of his decision is not yet known, it remains that Mayweather was arguably pound-for-pound the best boxer of his generation. His pristine 39-0 record with 25 KOs speaks for itself while taking on the sport's toughest competition.

The dynamic Mayweather won championships in five different weight divisions, including super featherweight, lightweight, junior welterweight and junior middleweight. He also won the 1996 Olympic bronze medal in Atlanta.

"I am sorry I have to leave the sport at this time, knowing I still have my God-given abilities to succeed and future multimillion-dollar paydays ahead, including the one right around the corner," Mayweather said through his statement. "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."



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