Nike moved swiftly to cancel their sponsorship of the welterweight fighter this week, describing his comments that gay people were "worse than animals" as "abhorrent".
Yet the devout evangelical Christian, who is standing for election to the Philippines senate, has reaffirmed his opposition to homosexuality.
"What I am saying is right," Pacquiao is reported to have said from his training camp. "I mean I am just stating the truth, what the Bible says."
On the Nike decision, he said: "Whatever decision Nike makes is its decision and I respect that and its sponsorship of me now only involves my clothes for my fight.
"Our contract has already ended aside from sponsoring the boxing."
Nike cancelled their deal with Pacquiao after his comments on homosexuality, made on Filipino TV, after it sparked outrage across the globe.
In a statement, the sportswear giant said: "We find Manny Pacquiao's comments abhorrent. Nike strongly opposes discrimination of any kind and has a long history of supporting and standing up for the rights of the LGBT community."