Irish-American publisher Niall O’Dowd has decided to withdraw from the contest for the Presidency, citing the difficulties facing independent candidates.
"I am no longer considering running in the Irish presidential race," the Tipperary-born businessman told The Irish Times last night.
"When I first raised the issue, I stated I would take a few weeks to gauge whether or not it was possible for me to run and that I would decide at the end of June.
"I believe the logistics involved in mounting a nationwide campaign against established political parties for an Independent are extremely difficult," he said.
Mr O'Dowd entered the race early last month and later held meetings in Dublin with Fianna Fáil general secretary Seán Dorgan and Sinn Féin leaders Gerry Adams and Mary Lou McDonald.
Both parties had reserved their position on his candidacy and on the presidential election in general.
Sinn Féin is expected to decide its approach at a party executive meeting tomorrow amid speculation the party may support Labour's Michael D Higgins.
When Mr Higgins was the minister responsible for broadcasting in the Fianna Fail-Labour government of 1992-94, he lifted the section 31 ban on Sinn Féin interviews.
Another presidential hopeful, Special Olympics executive Mary Davis, last night secured her first nomination from a council when she beat Dragons' Den panellist Seán Gallagher and Trinity College Dublin Senator David Norris.
Ms Davis secured the backing of 15 councillors on Louth County Council, with Sinn Féin and Fianna Fáil blocs voting for her, along with a number of independents, making the northeastern county the first to support her candidacy.
However, Mr Gallagher, who lives in the Blackrock district of Co Louth, secured just one vote, which came from Independent councillor Alan Grehan. Senator Norris received no votes.
Although Mr Gallagher is a former member of the Fianna Fáil national executive, councillors from the party voted to endorse Ms Davis. However four other local authorities have already supported his nomination.
Senator Norris addressed the council first, at County Hall in Dundalk, followed by Ms Davis and then Mr Gallagher.
A question-and-answer session followed with all three candidates, who were then asked to leave the chamber for the council to consider its decision.
Fine Gael council members wanted the vote adjourned until later in July.
This motion was defeated and Green Party councillor Marianne Butler successfully proposed a vote should be taken last night as "three candidates had been invited by the council and deserved to know the outcome".
After the result, a delighted Ms Davis said she was "honoured and humbled" to receive the support of Louth County Council.