Incidentally, Colorado's Abel Perry was set to face Margarito this month.
The fight had already been pushed back one time due to injury sustained by the aging Margarito and he appears to have now thrown in the towel.
Here is what long time promoter in Bob Arum had to say about Margarito stepping down.
"Margarito gave us a heads up that he was going to retire. He said that his body was breaking down. We certainly encourage him to retire.
"His legacy is that he was a fighter who never quit, and he gave everything in every fight," said Arum. "He was not the most talented guy in the world, but certainly one of the toughest."
"I'm really proud of what we did for him at Top Rank. We wish Tony the best of luck for the rest of his life."
Unfortunately, part of the former champions legacy also includes being tied to the well known plaster wraps scandal.
I was always a fan of Margartio and his iron chin / warrior spirit, but I think he got away with plaster in his wraps numerous times over his long career.
Who steps in to face Abel Perry now?
Stay tuned as details emerge...
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