LAS VEGAS — Right after scoring a split decision win over Juan Manuel Marquez in a fight many considered to have lived up to its billing, Manny Pacquiao ruled out a third fight with the Mexican "Dinamita," saying: "This business is over."

Marquez, on the other hand, insisted he won.

"I don’t like the decision," he stressed. "I still feel I am the champion. It was a bad decision. That first knockdown, he got me cold, but then I adjusted my game plan and I thought from then on, I dictated the whole fight. … The people are the best judge, and the people are booing him. I won."

Like Pacquiao, promoter Bob Arum ruled out a third fight between Pacquiao and Marquez. "I’m not saying they’ll never fight again, but you have to let it bake for a while," he said.

Pacquiao’s trainer, Freddie Roach, said the fight could have gone either way.

"It was a close fight, but we came back at the end," said Freddie Roach. "It could have gone either way, in my mind. Manny followed him around the ring too much. He didn’t cut off the ring like he should have. Marquez may have had a lot to do with that as well. Manny was more disciplined in training than he was in the fight tonight."

Before the verdict was announced at the full-packed Mandalay Bay Events Center, both fighters, still clad in their blood-spattered trunks, were raised by their corner men, just like what happened four years ago. Many expected Pacquiao to win that fight, on account of his devastating first round performance where he floored Marquez thrice–only for the bout to be declared a draw.

This time, judges Duane Ford favored Pacquiao 115-112 and Jerry Roth called it 115-112 for Marquez. Tom Miller saw Pacquiao a 114-113 winner.

After several years of waiting, Pacquiao (46-3-2) finally won a third title, claiming Marquez’s World Boxing Council 130-pound title.

The Filipino ring icon intends to take on a fourth world crown when he moves up to 135 pounds for his next fight against David Diaz, the reigning WBC lightweight champion who also won on the under card.

Pacquiao floored Marquez with a brutal left hook in the third round, but Marquez refused to stay down.

"I thought at that point I was in control of the fight," Pacquiao said. "But when he cut my eye in the fourth round, he made it more difficult for me, and I couldn’t take control of the fight. … I wasn’t sure (heading into the 12th round), but I always treat the final round as the most important. I don’t take any chances."

Marquez (48-4-1) landed more punches but Pacquiao persevered through a nasty cut. Marquez also was cut near his right eye, but neither fighter backed down from one scintillating exchange after another.

Immediately after their 2004 fight, Marquez was offered a rematch but he refused on account of what he deemed was a "lousy" financial offer from promoters. He ended up fighting for $30,000 in Indonesia, losing his WBA title to Chris John two years ago, but Marquez reclaimed the crown last year when he beat Marco Antonio Barrera.

Pacquiao was greeted by thousands of cheering fans, including a Filipino member of the rap group Black Eyed Peas, when he entered the ring. A mariachi band waited for Marquez on the ring.

The third round was probably the best in the 12-round fight, with both fighters trading quality punches, before Pacquiao decked Marquez. Marquez managed to get up and held on the ropes when Pacquiao unleashed a barrage of punches but refused to go down.