UPDATE: It's official. Per ESPN's Darren Rovell, Nike has terminated Manny Pacquiao's contract. Here's what the brand had to say on the matter.

See original post below.

In case you haven't heard, Manny Pacquiao made some incredibly offensive, anti-gay remarks this week, and despite a half-hearted apology on social media, the insensitive comments might end up costing him one of his biggest sponsorships.

TMZ reports that Nike has all but officially cut ties with the 37-year-old boxer, noting that Pacquiao's merchandise and name have been scrubbed entirely from Nike's website.

Throughout the years, Pacquiao has had a number of exclusive Nike Trainers, but from the sounds of things, his PE days have come to an abrupt end. 

Check back soon for updates on this developing story.