The 33 year-old, who has won his last four fights on the spin, has blamed a ‘harmful contract’ that he signed for his shock decision and says stepping away from the sport is the only way to break free from the deal.
Foreman was signed up with renowned boxing promoter Lou DiBella for his recent bouts, although the New York-based fighter would not divulge whether it was his deal with DBE that was the problem.
In a statement to his fans, Foreman had this to say via his Facebook page:
“Dear Friends. Unknowingly I signed a very harmful contract regarding my boxing career.
“I tried all possible ways to free myself from it, but (there is) nothing else I can do than but announce my retirement from boxing. So from now I’m on to bigger and better things.
If Foreman does stick to his word and pull out of the June 7 bill, the Israeli will leave the sport with a 32-2 record and nine stoppages.
Follow on Twitter @PhilDJay for tweets of upcoming news on WBN