McAuliffe says he won't run for president in 2020

Former Virginia Gov. Terry McAuliffe (D) said Wednesday that he will not join the crowded field vying to win the Democratic presidential nomination in 2020.

The former governor said he will instead focus his efforts on helping the Democratic Party win the majority in the state House and Senate.

"We’ve got issues in Virginia, and I’m concerned about Virginia, and since February we’ve had a lot of problems there," McAuliffe told CNN host Chris CuomoChristopher (Chris) Charles CuomoCNN's Cuomo reports 'funky stuff' in his blood work after COVID-19 recovery CNN's Cuomo pulls out massive cotton swab to tease brother after live COVID-19 test Owner says he did not report crime after video shows man on property in neighborhood where Ahmaud Arbery was killed MORE, referencing recent scandals involving the state's Democratic governor, lieutenant governor and attorney general.

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"We have the opportunity to pick up both the House and Senate. I invested a lot in that state and I love that state. We’ve got to win the House and the Senate in that state.”

McAuliffe said the state's elections later this year will have an outsize impact as lawmakers are set to redraw Virginia's congressional districts.

“The folks that we elect this year, they will be around in 2021 when they redraw all the maps. This election will determine the next 10 years in Virginia,” he said.

McAuliffe was never seen as a leading contender for the nomination, but his decision carries ramifications for the rest of the presidential field because of his deep ties to the Democratic fundraising community.

Throughout his long career in politics, he has established himself as one of the Democratic Party's leading magnates. He is close to both former President Clinton and Hillary ClintonHillary Diane Rodham ClintonTrump campaign launches Asian Pacific Americans coalition Van Jones: A 'white, liberal Hillary Clinton supporter' can pose a greater threat to black Americans than the KKK Taylor Swift slams Trump tweet: 'You have the nerve to feign moral superiority before threatening violence?' MORE, and he served as chairman of the Democratic National Committee before entering electoral politics himself.

His absence from the race means dozens of McAuliffe's longtime friends in the donor and bundler communities are now up for grabs.

McAuliffe had been moving toward a presidential bid for years. As recently as last month, he told friends he was leaning toward entering the race.

He would have been something of a centrist in an increasingly liberal Democratic field, though it was unclear whether there would have been a lane for a centrist, business-friendly, white male Democrat in the race, especially if McAuliffe's friend former Vice President Joe BidenJoe BidenTrump campaign launches Asian Pacific Americans coalition Biden: 'More than one African American woman' being considered for VP Liberal group asks Klobuchar to remove herself from VP consideration because of prosecutorial record MORE joined the field.

McAuliffe, however, seemed to suggest that centrist lane could be successful against Trump next year in the crowded Democratic primary field.

“I think most of them beat Trump. I love Joe Biden … But listen, we’re going to have a good, healthy process,” he said.

Updated 10:05 p.m.