Boxing great 'Sugar' Shane Mosley has retired from the ring for a second time - and this time he insists it's permanent.

The 42 year first announced he was stepping down in 2012, but he bounced back for more fights.

However, at a press conference at the Barclays Center, New York on Saturday night (07Dec13), he stated it was time to walk away for good.

He said, "It's a young man's game. It's time to step aside and let some of these young guys do their thing."

Mosley's second retirement comes 10 days after he suffered defeat in the ring in a fight with Anthony Mundine in Australia.

A revered lightweight and welterweight, Mosley won 47 of his 57 fights and defeated the likes of Oscar De La Hoya and Antonio Margarito.

Mosley tells Espn he won't be retiring from the sport completely and hopes to become a trainer.

He says, "I'm training my son and a couple of other young fighters."