A crestfallen Manny Pacquiao has told the world's media he lost the fight of the century to Floyd Mayweather because a shoulder injury left him unable to use his right hand.
It is estimated a worldwide audience of 400million - including thousands of people in Pacquiao's hometown - tuned in to watch American Mayweather earn victory with a unanimous points decision in front of a star-studded crowd in Las Vegas.
Mayweather stands to pocket upwards of $180million from the super fight, while Pacquiao will take home around $120million.
After a build-up of almost five years, the pair took to the ring at the MGM Grand on Saturday night and battled through a closely-fought 12 rounds, with little separating them.
But it was the American who came out on top at the end of the multi-million dollar spectacle - retaining his undefeated record in front of a host of celebrities including Jay Z, Beyonce, Bradley Cooper, Mark Wahlberg and Donald Trump.
The beaten Filipino, 36, has since blamed his defeat on a shoulder injury and said he wanted to have an injection before the fight but the Nevada Athletic Commission refused.
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A-list celebs turn out for 'fight of the century'
He said: 'Three weeks before the fight I got a tear in my right shoulder. It got better but it wasn't 100 per cent.'
Pacquiao's promoter Bob Arum claimed he informed the Commission of the injury five days ago and defended the decision not to cancel the fight, the most lucrative in boxing history.
He said: 'Athletes always fight hurt and we felt the work that was done on the shoulder during training would enable him to use his right hand.'
Mayweather hit back at the claims, saying he too was carrying injuries to both arms and hands.
He said: 'If he had come out victorious, I would have shown respect and said he was the better man.'
Millions of viewers across the United States tuned in for what was expected to be one of the biggest sporting events in history, but some were left frustrated as pay-per-view services crashed just hours before they stepped into the ring because of surging demand.
The 38-year-old favorite conquered the Filipino in front of thousands of boxing fans and celebrities who had flown into Sin City from around the world just to be ringside for the historic bout.
Justin Bieber, who hosted a lavish pre-party in the Hard Rock Hotel earlier on Saturday, was at the forefront of the action, leading Mayweather and his entourage into the packed arena after embracing the boxer during his pre-fight ritual.
Mayweather made a surprisingly strong start, then withstood some aggressive counter-punching by the Filipino southpaw in the later rounds as he improved his career record to 48-0.
Though Pacquiao repeatedly forced Mayweather to backpedal, the wily American blunted his opponent's best efforts by using his renowned defensive skills while getting in several telling jabs and punches of his own.
After the bout, which has been five years in the making, 'Money' confirmed that he will have one more fight in September, citing a deal with Showtime.
The judges' scorecards read: 118-110, 116-112 and 116-112 in favor of Mayweather in a decision that didn't go down well with his defeated Philippine opponent.
'Pac-Man' insisted he thought he had won the encounter, saying: 'I thought I won the fight. He didn't do nothing.' He is now planning a vacation before mulling over the next stage of his career.
In the Philippines, a country stood still as they watched their national hero in action more than 7,000 miles away.
The streets of Manila were packed as fans caught a glimpse of the fight any way they could, having been asked by their government to switch off their refrigerators before and during the fight to prevent an electrical black out across the country.
Gymnasiums and other public venues where the 12-round fight was shown for free on Sunday lunchtime local time were quickly vacated after it was announced Pacquiao lost by unanimous decision.
Sportsmail's Big Fight Stats: Floyd Mayweather beats Manny Pacquiao
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Some fans said Pacquiao should retire from boxing while others demanded a rematch.
Roland Purificacion, a 45-year-old pedicab driver who watched the fight on a huge television screen outside the Quiapo Church in central Manila, was disappointed but spoke for many of his compatriots when he said Pacquiao 'is still the people's champ. He is still our hero'.
In Pacquiao's hometown of Kiamba, a fishing and farming town in southern Sarangani province, which he represents in Congress, passenger mini-buses brought villagers who have no television to watch the fight in the town's 2,500-seat gymnasium.
Ahead of the $400million pay-per-view extravaganza, Mayweather wrapped his arm around Bieber and posed for pictures behind the scenes at the MGM Grand before walking out in front of more than 16,000 spectators.
He bizarrely strutted out with the 21-year-old popstar and a man dressed as The Burger King - a choice that has not been given any clear reasoning.
Meanwhile, Pacquiao entered the ring with American chat show host Jimmy Kimmel, who was allegedly dressed up as Bieber. As he walked in, the underdog marched to the tune of a song he penned himself, and even took a selfie with trainer Freddie Roach.
Actor and singer Jamie Foxx gave a heartfelt rendition of the American national anthem, while Gail Banawis, a 19-year-old Bronx native and Filipina-American was a member of a large group who sung the Philippine version.
Just hours before the event, viewers across the United States complained their paid for viewing - at $99 a piece - was crashing.
Record sales of more than four million had been predicted before the flight on Saturday, carrying the gross value revenue from the richest fight of all time above half a billion dollars.
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The likes of Robert De Niro, Matt Damon, Ben Affleck, Michael J. Fox, Leonardo DiCaprio, Denzel Washington, and Rihanna were also seen ringside on Saturday night.
Will Smith and Dwayne 'The Rock' Johnson were in attendance, alongside rapper P Diddy and 'Rocky' star Sylvester Stalone.
The Las Vegas Sun reported on Saturday that airport traffic reached record volume levels, forcing hundreds of private jets to smaller area airports.
Pictures taken from incoming flights showed the runways lined with hoards of private jets. Tom Brady was seen at the Kentucky Derby earlier in the day before jetting in to Sin City for the encounter.
With tickets commanding six-figure sums on the resale market, even A-list celebrities were being forced to call in favours, and many were left waiting to hear if they had made the red carpet cut hours before the event.
Fewer than 1,000 tickets were offered to the public before the fight and those vanished in seconds. The remainder were divided among the two fighters' promotion companies and MGM, who made the seats available to their best customers.
A Showtime official told Reuters the cable giant, which will share pay-per-view rights with rival HBO, had been fielding calls from anxious A-listers over the last 24 hours eager to confirm ringside reservations.
But with demand far out-stripping supply, some celebrities faced the humbling prospect of being shut out or bumped into the upper levels.
Seat or no seat, celebrity parties raged up and down the Las Vegas Strip on Friday night with something for nearly every taste and wallet.
For high-rollers, hip hot artist Jay Z offered a mega-expensive $50,000 a table VIP bash around the megafight while P. Diddy threw a poolside bash with a $10,000 a table cover complete with Sports Illustrated swimsuit models.
P Diddy backs Floyd for $250000 as Mark Wahlberg goes for Manny
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