After reaching out to supporters and past fundraisers, 2012 Republican Presidential nominee, Mitt Romney announced to his supporters on Friday morning, that he will not be running in the 2016 presidential race.

After finding that many of his past fundraisers and supporters had moved away from his corner into that of Jeb Bush, Romney decided that he would forgo seeking the Republican nod for the nation’s top seat. On Wednesday, it was revealed that Romney’s former Iowa advisor, David Kochel, had been wooed over to the Bush camp.

Early polls showed him leading the field in the Republican race for the nomination, but many thought that his being labeled as “out-of-touch” in the 2012 race would be a barrier once again, especially after his real estate buying spree that he went on after losing the 2012 run for the presidency.

In a written statement, Romney said, “The reaction of Republican voters across the country was both surprising and heartening” But, he went on to say, “I believe that one of our next generation of Republican leaders, one who may not be as well known as I am today, one who has not yet taken their message across the country, one who is just getting started, may well emerge as being better able to defeat the Democrat nominee.” He was referring to Jeb Bush in that statement.

Bush released his own statement upon hearing the news of Romney’s bowing out. Calling Romney a party leader and a patriot, Bush continued,  “There are few people who have worked harder to elect Republicans across the country than he has…Though I’m sure today’s decision was not easy, I know that Mitt Romney will never stop advocating for renewing America’s promise through upward mobility, encouraging free enterprise and strengthening our national defense.”

When asked if he would reconsider re-entering politics, Romney replied, “Not likely.”

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