Mitt Romney, the Republican who was beaten by President Obama in the 2012 election, has said he will not be running again for president in 2016. Mr Romney, 67, has said he had made the decision to give other leaders in his party the chance to become the nominee.
His statement comes just weeks after a surprising announcement saying he was considering a second attempt but his clear declaration leaves donors free to support other Republican candidates.
Potential
Florida governor Jeb Bush, New Jersey governor Chris Christie and Senator Rand Paul are said to be among those considering running for the presidency.
While on the Democratic side, the presumed front-runner is former Secretary of State Hilary Clinton, though she is yet to make an announcement. Mrs Clinton rang in 2008 but lost the nomination for the party to Mr Obama.
Elizabeth Warren is another Democrat who is said to be considering putting her name forward while from the Tea Party, Texas Senator Ted Cruz is a forerunner.
Campaign
Mr Romney’s campaign raised in excess of $1 billion in 2012 though it proved to be an unsuccessful attempt. He also lost the 2008 Republican nomination to Senator John McCain.
In a statement made to donors by phone, Mr Romney said he was ‘convinced that he could win the nomination’ but that he believed one of the next generation of Republican leaders needed to emerge and be better equipped to defeat the Democratic nominee.
Mr Romney has always had the look of an American president, according to political reporters but his image worked against him in 2008, when he lost the presidential nomination because he was a moderate governor of liberal Massachusetts.
In 201, when he won the nomination but lost the presidency, his image made him seem like the out-of-touch millionaire and it was this, more than his Mormonism, which hurt his candidacy. A leaked video showing him maligning the 47% of the electorate who were financially dependent on the government saw an effective end of his campaign. Inequality and the stagnant middle class are going to be big issues in the next election and he would be hard pressed to alter his image in this area.
Supporters
Mr Romney was said to have floated a potential run around three weeks ago but found that some of key supporters had already backed Mr Bush, according to Association Press news agency. Jeb Bush, son of the former president and brother of another, announced he was exploring a run for president in December.
After the announcement, Mr Bush tweeted that Mr Romney was a patriot and he hoped that his days of serving the nation and the party were not yet over.
