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Report: Nike considering dropping Manny Pacquiao after latest controversy

Is Manny Pacquiao losing his deal with Nike? It looks that way.

Ethan Miller/Getty Images

After Manny Pacquiao caused another controversy by saying homosexuals are "worse than animals," it appears as though Nike is planning to cut ties with the Filipino superstar. TMZ is reporting that a decision has not officially been made, but that the company is leaning toward dropping their endorsement deal with him.

Pacquiao, 37, apologized shortly after his comments, but it's also hardly the first time he's said something like this, and now that he's more focused on politics than boxing -- his supposed retirement fight is set for April 9 -- it's probably not worth the trouble of continuing to endorse Pacquiao, if nothing else.

A quick check of the Nike.com web site reveals that they have already removed Pacquiao merchandise from their store, so that's probably an indication that, indeed, Nike will be severing ties with the fighter.

CBS News says that an official statement is expected shortly, possibly as soon as today.