Paul Massey Drops Out Of Mayor's Race

NEW YORK, NY — Businessman Paul Massey is dropping out of the race to be New York City's next mayor, saying he didn't have the financial support needed to win in November's election.

Massey, a Republican, announced his departure from the race in an emailed statement Wednesday afternoon that came as a surprise to NYC election observers.

"I am proud that I contributed to the debate on issues of importance to New Yorkers including education, housing and homelessness, and that I have provided real solutions for how to better our quality of life in regard to the ongoing transit crisis," Massey's statement said.

"This journey has been wonderful because of the great New Yorkers I’ve met and all of the things my team and I have learned."

But Massey struggled to gain much ground on Assemblywoman Nicole Malliotakis for the GOP nomination.

"As I have in the past, I intend to involve myself in community and not-for-profit organizations in New York City, especially in education, which is my passion. New York certainly hasn’t heard the last from me," Massey's statement said.

"Unfortunately, the cost of running for office is extraordinary, and I do not see a path to raising the necessary funds to beat an incumbent mayor. I am forever indebted to my family, team and my friends for their support."

Photo via Paul Massey campaign