Billionaire businesswoman Kelly Loeffler (R), the owner of the WNBA's Atlanta Dream, has decided not to run for Georgia's open Senate seat.

Loeffler had been seriously weighing a bid for retiring Sen. Saxby ChamblissClarence (Saxby) Saxby ChamblissLobbying World Former GOP senator: Let Dems engage on healthcare bill OPINION: Left-wing politics will be the demise of the Democratic Party MORE's (R-Ga.) seat, and would have been able to self-fund in a big way for the race. But her company is in the process of buying the New York Stock Exchange, a deal which has dragged on longer than expected and tied up her schedule.

Loeffler tells that she won't run.

Some Republicans in Georgia and nationally had been very high on her potential campaign, but it's looked for months like Loeffler was unlikely to run.

Georgia's GOP Senate field is wide open, with more than a half-dozen candidates running. Those include Reps. Paul Broun (R-Ga.), Phil Gingrey (R-Ga.) and Jack Kingston (R-Ga.), as well as former Georgia Secretary of State Karen Handel (R) and businessman David Perdue (R). Democrats have coalesced around Michelle Nunn (D) and hope to be able to contest the seat in the red state.