Manny Pacquiao's promoter Bob Arum says the Filipino boxer is ready to hang up his gloves after one more fight in 2016 and then make the switch to being a full-time politician. Arum told the Los Angeles Times that the 36-year-old Pacquiao wants to get on with his political career and run for the Senate in the Philippines. "I believe he'll take one more fight, then run for the Senate in the Philippines," Arum told the newspaper in a telephone interview from China. "He could fight twice more, I guess, but it sets up better for him to fight, then run." Pacquiao was elected to the Philippine House of Representatives in 2010, representing the province of Sarangani. He was re-elected in 2013. The first and only eight-division world champion has always had ambitions to become Philippines president one day when his boxing days were over. Pacquiao lost a unanimous decision to Floyd Mayweather in Las Vegas four months ago in a fight that Pacquiao fought with a torn rotator cuff in his right shoulder. I believe he'll take one more fight, then run for the Senate in the Philippines Bob Arum It was heralded as the "Fight of the Century" with fighters receiving the highest purse in history. The fight generated more than US$400 million in revenue. Pacquiao then underwent surgery after the Mayweather fight which generated a record 4.4 million pay-per-view buys. The Filipino is unlikely to begin training again until November at the earliest, although there are reports suggesting he is making a swift recovery and resume training earlier. Arum told the Times it is unlikely Pacquiao and Mayweather could fight again. "From what I've heard, Mayweather is retiring," Arum said. "I guess they could fight again, but many things would have to happen." Mayweather has said his next fight against Andre Berto on September 12 in Las Vegas would be his last, but few are taking him seriously after he made the same claim about several of his most recent title fights.