Manny Pacquiao has decided to stay retired and won't be participating in the Rio Olympics so that he can focus on his senatorial duties. Pacquiao recently won a seat in the Philippines senate and had been offered a wild card slot in the games by AIBA, but had a deadline of tomorrow to make his ultimate decision.
Pacquiao's decision will therefore prove to be a permanent one as he will not be eligible to compete in the next Olympic games because he'll be over the age limit of 40 by the time the 2020 Tokyo Games roll around. So far, the Philippines have yet to win a gold medal in boxing, but it has been their strongest event -- accounting for five of its nine Olympic medals.
Without Pacquaio, the Philippines still has two other fighters who have qualified for the games -- light flyweight Rogen Ladon and lightweight Charly Suarez -- and will additionally send three more fighters to the Final Olympic Qualifiers.