WASHINGTON (AP) — Mitt Romney won't be running for president next year. He had revealed earlier this month that he was thinking of making a third bid for the White House. But now, the Republican nominee from 2012 says he won't be entering the race.

In a statement, he says he decided that "it is best to give other leaders in the party the opportunity to become our next nominee."

As Romney reached out to members of his former team in recent weeks, he discovered that several of his past fundraisers had already committed to supporting Jeb Bush next year.