The 36-year-old Briton made the surprise decision just a few weeks after suffering a second successive loss to WBA (Super), WBC and WBO champion Oleksandr Usyk.
Fury has retired more than once in his illustrious career, but American Arum – who promoted him in the past – does not expect another U-turn from the fighter.
“If I was a betting man I would say he will never fight again,” Arum told the 5 Live Boxing podcast with Steve Bunce.
“Marvin Hagler had an expression – ‘a rich guy who goes to bed wearing silk pyjamas doesn’t get up in the morning to do road work’.
“Tyson, really, I don’t think wants to get up in the morning and do road work and go through the experience of having to train when economically he doesn’t have to do it any more.”
Fury’s last three fights took place in Saudi Arabia, having last fought in the UK in 2022 when he outclassed compatriot Derek Chisora at Tottenham Hotspur Stadium.
He has a record of 34 wins, one draw and the two defeats.
Those two losses came against Ukraine’s Usyk, who ended Fury’s 15-year unbeaten streak as a professional in their first contest last May before winning the December rematch.
Despite the retirement announcement, it has not stopped rivals calling Fury out, or fans speculating about a potential comeback following an appearance of him working out in his personal gym.
Promoter Eddie Hearn last week suggested the long-awaited domestic bout between Fury and Anthony Joshua could still happen – should the Gypsy King personally reach out to his domestic rival.
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