It's official, the possibility of a Manny Pacquiao versus Floyd Mayweather Jr. rematch just went down the drain.

The most anticipated match of this year will be the first and last Pac-Man and Money will ever compete in a boxing ring as both have bigger plans in mind.

According to Business Insider, fans should no longer expect a rematch between Manny Pacquiao and Floyd Mayweather Jr. as both fighters have completely gone their separate ways.

Pacquiao, who is slated to fight one more time next year, said that he is going to run for a senatorial position in his home country, the Philippines.

"I think I'm ready (to retire). I've been in boxing for more than 20 years," Pacquiao said. "I prayed to God for guidance and I am happy about it."

It is no secret that running for such a position will require tremendous amount of time which signifies retirement for the Filipino boxer.

"I will have to give up the other things that require my attention. If you are a senator, your focus should only be your job and your family," Pacquiao said in the interview.

Meanwhile, Mayweather spoke with Premier Boxing Champions: Toe-to-Toe Tuesday on Fox Sports 1 and he teased fans that there is something he is planning in the future, but that won't be a return to the boxing ring.  

"I'm not coming back, but..." teased Mayweather via Jake Donovan of BoxingScene.com. "I'm just happy to be on the other side."

For the undefeated American boxer, he no longer have anything to prove which is why he is hanging up the gloves for good.

"You got to know when to hang it up, and it's time for me to hang it up," Mayweather said. "I'm not going to be doing this when I'm 40 years old."