Ricky Hatton will call time on his career in the ring in a press conference next week, Sky Sports News has revealed.
The former world champion had planned to face Juan Manuel Marquez in a summer comeback clash and had been at a training camp in an attempt to get into shape.
However, his training has reportedly not been a success, leading the Hitman to admit he can no longer perform at the highest level.
Hatton was reported to be so devastated by the realisation that his career was over that his girlfriend, mum and dad flew out to his camp in Tenerife to comfort him.
The 31-year-old, who has won world titles at two different weights during his 47-fight career, turned professional in 1997 with a TKO of Colin McAuley in Widnes.
Hatton suffered the first loss of his career against Floyd Mayweather in 2007, but returned five months later to claim the IBO light welterweight title by beating Juan Lazcano.
A comprehensive win over Paulie Malignaggi seemed to get Hatton back on track but a stunning knockout by Manny Pacquiao looks to have now been his last appearance in the ring.
He has not fought since that fight Las Vegas last May, but confirmed plans for a 2010 comeback last December.
Is Ricky Hatton right to call it a day?