Ryan Garcia will serve a one-year suspension after reaching a settlement with the New York State Athletic Commission regarding his positive performance-enhancing drug tests ahead of his fight with Devin Haney.

Mike Coppinger of ESPN reported Garcia will forfeit his disclosed purse of $1.2 million. Garcia will be eligible for reinstatement April 20, 2025, provided he passes a drug test.

"The commission will continue to hold athletes to the highest professional standards and protect the integrity of all sports under our jurisdiction," the NYSAC said in a statement.

The decision comes after Garcia, 25, announced his retirement Wednesday on social media.

Garcia defeated Haney via majority decision in April. The win was considered a major upset, giving Haney the first loss of his professional career. The result has been overturned and will be a no-contest on both fighters' records.

"I want to thank the commission and the fans who stood by me during this whole process," Haney told Coppinger. "The facts are the facts, and I wasn't on an even playing field. Happy I was able to receive justice for what happened. It's all part of my story and it's only going to make me better. I look to enjoy this time with my family and friends and see what's next.

"I'm a clean athlete and boxing is a brutal sport where one fight can literally change your life. I think it important for fighters to be clean and I want to become an advocate for clean athletes for my experience in this situation."

Garcia has vehemently denied purposefully taking performance-enhancing drugs. His representatives released a statement saying the fight will "never be erased" despite being wiped from the record books.

"Ryan, with his legal team, has resolved this issue and firmly maintains his truth: he never intentionally took any banned substance," Team Garcia said in a statement provided to ESPN. "It's simply not in his nature. ... The fans will always remember his performance against Haney as a masterclass, and that will never be erased."

Haney remains the WBC junior welterweight champion, along with holding the WBA (Super), WBC, IBF, WBO, and The Ring lightweight titles. He has not announced his next fight.

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