For fought see “fight” in 1 Tim 6.12. Here Paul once again uses a metaphor from the athletic arena. Among the athletic events suggested as being referred to in the metaphor are wrestling, boxing, and a foot race (compare Good News Translation, New English Bible). A literal translation would of course be ambiguous and would refer to any athletic event. “I have fought well” (Contemporary English Version) is a good translation model.
In I have finished the race, Paul continues the athletic metaphor and compares the end of his life as reaching the finish line. The focus here is not in winning the race but in finishing “the full distance” (Good News Translation).
The meaning of the statement I have kept the faith will vary depending on how faith is interpreted. If faith is interpreted as “doctrine,” then what Paul is saying here is that he has preserved the Christian teaching or the Christian message and kept it free from any error. If faith is interpreted as “trust,” that is, as something entrusted to someone, then what Paul is saying is that he has been faithful to this ministry that has been entrusted to him. It is, however, possible that being faithful to the ministry will in fact include the first alternative, which means that the statement is meant to be general and inclusive rather than specific. A statement like “I have been faithful to the end” would then be a dynamic equivalent of what Paul is trying to convey. But in some languages it will be necessary to make the goal of “faithfulness” explicit; for example, “I have faithfully preached the Good News (or, God’s message).”
A verse parallel to the above is found in Acts 20.24, “But I do not account my life of any value nor as precious to myself, if only I may accomplish my course and the ministry that I received from the Lord Jesus, to testify to the gospel of the grace of God” (Revised Standard Version).
Quoted with permission from Arichea, Daniel C. and Hatton, Howard A. A Handbook on Paul’s Second Letter to Timothy. (UBS Handbook Series). New York: UBS, 1995. For this and other handbooks for translators see here .