His lopsided defeat to Manny Pacquiao on Dec. 6 at the MGM Grand Garden epitomized his decline and was essentially the best reason the 36-year-old from East Los Angeles had for retiring.

"The last four months have been very difficult for me," De La Hoya said after his announcement at a news conference in downtown Los Angeles. "It kills me inside that every time I step inside the ring, it's not me.

"I had a hunch this was coming sooner than later. I was getting beaten up in my training camp by my sparring partners. That had never happened to me before. I just didn't feel right. That's a big reason why I decided to retire."

Richard Schaefer, Golden Boy Promotions chief executive officer, announced that a gala in Las Vegas celebrating De La Hoya's career will be held Sept. 19 at the MGM Grand Garden. Details on the event will be released in the coming weeks.

If De La Hoya is true to his word, he leaves the ring with an indelible image. He was a picture of dejection, battered and bloodied, quitting on his stool before the start of the ninth round of his fight with Pacquiao. De La Hoya took a savage beating that night, and the final chapter of his illustrious 17-year professional career -- one that saw him amass a 39-6 record with 30 knockouts and win 10 world titles in six weight divisions -- was a humiliating experience for the man who once dominated his sport.

He toyed with the notion of trying to leave boxing on better terms, but he knew in his heart it was time to go. His decision to retire was confirmed when he talked to his wife, Millie, on Tuesday morning before the news conference.

"My wife looked into my eyes and she asked me, 'Do you want to retire? Are you sure?' " he said. "When she opened the door for me to change my mind, I didn't take it.

"I'm convinced I'll never come back. I'm not going to fall into the trap, because once you fall into the trap, you can't get out."

De La Hoya knew he had to leave the big stage. The tail end of his career was strewn with subpar performances and losses in four of his last seven fights.

Yet he was still big at the box office and on pay per view. His 2007 loss to Floyd Mayweather Jr. set a pay-per-view record with 2.4 million buys. In 19 pay-per-view appearances, De La Hoya's fights produced more than 14 million buys and generated nearly $700 million. De La Hoya was a participant in three of the eight highest-grossing pay-per-view boxing events in history.

Reaction around the boxing world to De La Hoya's announcement was predictable.

"I applaud his decision," said Top Rank chairman Bob Arum, who signed De La Hoya out of the 1992 Olympics after he won the gold medal.

Arum guided De La Hoya through the formative stages of his professional career. "I think at this point, there's no need for him to continue.

"He was a great attraction. But the truth is, he was a good fighter but not a great fighter."

Pacquiao, who is training in Los Angeles for his May 2 junior welterweight fight with Ricky Hatton, said he agrees with De La Hoya's decision.

"I'm very happy for Oscar and his family," Pacquiao said. "I think he made the correct decision. He deserves to have a happy retirement."

De La Hoya leaves boxing with his faculties intact, his bank account well stocked and with plenty to do with his life outside the ring. His Golden Boy Promotions company has signed several quality young fighters the past couple of years and is branching out into mixed martial arts. He also has gotten involved with soccer (he's part owner of the Houston Dynamo of Major League Soccer) and has investments in music and entertainment.

"It definitely made my decision easier knowing I have the company to fall back on," De La Hoya said. "It will certainly help make the transition smoother for me."

Contact reporter Steve Carp at scarp@reviewjournal.com or 702-387-2913.