The shock news of the day came from former Light Heavyweight Champion Oleksandr Gvozdyk (17-1, 14 KOs) who announced his retirement aged 33 with intentions on pursuing business opportunities.

His manager, Egis Klimas, told ESPN “He’s a very smart guy, so he thinks it’s going to be inconvenient for him to do that kind of business and box at the same time,” Klimas said on Tuesday afternoon. “So he needs to give himself 100% to boxing or business. So he decided to do that.”

Gvozdyk was stopped in the tenth round against Artur Beterbiev in October but Klimas insists this had nothing to do with the decision.

“Actually, what kept him from moving away from boxing, that motivation to go back into the ring, was Beterbiev,” Klimas explained. “That was the only one holding him because he wanted to get that rematch. There might be a possibility that someone will get him a rematch, he might change his mind.”

Gvozdyk become world champion by stopping longtime champion Adonis Stevenson in December 2018 and was promoted by Top Rank throughout his professional career.

“It’s been a pleasure for us to have promoted Oleksandr Gvozdyk, who not only proved himself to be a great fighter, but is also one of the most highly intelligent boxers that we have had the pleasure of promoting,” said Bob Arum of Top Rank. “Thankfully we worked well together with him and lead him to a world championship.

“He’s now bound and determined to pursue a business career, and a very important business opportunity. We know he will succeed because of his ability, character and perseverance. Everybody at Top Rank wishes him the greatest good fortune in his next career.”