BOXING : SUGAR RAY COULD'VE LEFT WITH HIS CHIN HELD HIGH.

Byline: MICHAEL ROSENTHAL

It wasn't difficult to understand why Sugar Ray Leonard returned to boxing at 40.

He missed it. He missed being in the ring, at center stage, the focus of attention, the superstar. He missed the action, the competition, the wars. It never leaves a fighter's system. Never.

And there was the money. How many other ways can one make millions of dollars in one evening?

Indeed, although his embarrassing knockout loss to Hector Camacho was heartbreaking, and, in one sense, never should have happened, it wasn't illogical.

And then Leonard went too far: He announced five days after the bout that he would continue to box in spite of the beating he took.

Immediately after the fight, Leonard blamed the loss in good part on a sprained right-calf muscle, suffered in training. He vowed later that he would fight at 100 percent the next time he steps into the ring.

However, there was more missing than a healthy leg. Except for his mind and charm, the once-in-a-generation qualities that made him the most popular fighter of the late '70s and early '80s were gone. Long gone.

Most important, perhaps, was his inability to take a punch even against a weakling like Camacho. As one knowledgeable observer said of Leonard the other day: ``Once your chin is gone, it's gone for good.''

How many more punches can that chin absorb before it caves in? How many more punches can his brain take before dementia sets in? Ultimately, we don't want to know.

And what of Leonard's image?

He reminds me of Willie Mays in his final seasons in baseball, with the New York Mets the latter part of 1972 and 1973, when pitchers made him look foolish. Willie Mays. Foolish. How sad.

At this point, Leonard is Willie Mays and it's painful to watch him.

Leonard said before the fight that if his reputation can be tarnished by one bad performance, then it wasn't much of a reputation. He didn't say anything about two or more embarrassing outings, though.

The wonderful memories of a magnificent boxer shouldn't be sullied this way. Not for pride. Not for money. Not for anything.

``I'm a fighter,'' Leonard said after announcing he would continue to fight. ``I'm a warrior. I'm an athlete.''

No longer, Ray. Now, you're a sideshow.

No respect: Michael Moorer defends his IBF heavyweight belt against unbeaten but untested Vaughn Bean on March 29 in Las Vegas. And no one has taken much notice.

Why?

``It's perception,'' said Teddy Atlas, Moorer's trainer. ``This is the entertainment industry. People go for Darth Vaders. They like guys who are dark, fearsome, who border being bad. That's what sells. And, of course, you don't have to explain (Evander) Holyfield. He beat Tyson.

``. . . (Moorer) will have a chance to turn it around if he beats Bean. I've been in this business long enough to see . . . how a guy thought of as yesterday's news can become today's hero.''

Moorer could get his chance against the winner of the May 3 Tyson-Holyfield rematch. He has a deal in place if Tyson wins but must reach an agreement if Holyfield retains his title.

``If he wins, he won't be treated as a second-hand guy,'' Atlas said.

The winner is . . .: The Ring magazine, celebrating its 75th anniversary, announced its best-of-the-best awards, as chosen by the editors:

Best fighter: Sugar Ray Robinson. Best fight: Ali-Joe Frazier III, the Thrilla in Manilla in 1975. Best round: Round one of Marvin Hagler-Thomas Hearns in 1985. Best knockout: Robinson's one-punch KO of Gene Fullmer in 1957. Best boxer: Benny Leonard. Best trainer: Eddie Futch. Best chin: Jake LaMotta. Best puncher: Joe Louis. Best announcer: Don Dunphy.

Rabbit punches: If Oscar De La Hoya gets past Pernell Whitaker on April 12, word is he will fight David Kamau on HBO in June and then face Camacho in a fall mismatch. . . . With victories on Saturday, Danny Romero and Johnny Tapia are expected to fight in June or July in what will certainly be an entertaining fight. . . .

George Foreman, 48, fights Lou Savarese on April 26 in Atlantic City. N.J. Enough is enough, George. . . . Kenny Sigurani faces Meldrick Taylor on April 6 in Altoona, Pa. Taylor's still around? C'mon on. . .

The Forum has signed two Irish fighters for it's St. Patrick's Day main event on March 17: ``Irish'' Hector Lopez and Carlos ``Bolillo'' O'Gonzalez. At least that's what Forum publicist John Beyrooty dubbed them. The fight, for Lopez's NABO junior welterweight title, should be a good one. Neither Lopez nor Gonzalez messes around in the ring.

COMING UP

Tuesday: On USA, Dominic Carter defends his marginal IBA light heavyweight title against Rocky Gannon in Bay St. Louis, Miss. Also, Kirk Johnson faces Everton Davis in a 10-round heavyweight bout.

Wednesday: On DIRECTV, Roger Mayweather faces Carlos Miranda in a 10-round welterweight bout in Grand Rapids, Mich. Also, Jeff Mayweather takes on Eric Jakubowski in a 10-round lightweight fight. On Telemundo, Enrique Sanchez takes on Joe Manzano for the vacant NABF junior featherweight title in Phoenix.

Friday: On ESPN, Kevin Kelley faces Jesus Salud for Kelley's marginal WBU featherweight title in Albany, N.Y.

March 17: Hector Lopez of Palmdale defends his marginal NABO junior welterweight title against Carlos ``Bolillo'' Gonzalez at the Forum.

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