Mitt Romney's son had reportedly been approached by Republican officials about the possibility of running in an April special election to fill John Kerry's Senate seat.
Tagg Romney, son of Republican presidential candidate Mitt Romney, will not make a bid for John Kerry's vacated Senate seat, according to a statement he sent to the New York Daily News.
In his note, Romney said, "The timing is not right for me, but I am hopeful that the people of Massachusetts will select someone of great integrity, vision and compassion as our next US Senator."
Earlier, The Boston Herald had reported that Romney, 42, whose father recently lost his bid to supplant Barack Obama as president of the United States, was considering a run for the vacated seat in an April 30 special election.
Democrat Mo Cowan was appointed as interim senator, and Sen. Scott Brown has removed his name from contention.
Tagg, Mitt's eldest son and a father of six, currently runs the venture capital firm Solamere, though he's no stranger to politics. He was heavily involved in both of his father's presidential campaigns in 2008 and 2012.
In his statement, Tagg Romney noted he is "currently" committed to his business and to spending as much time as possible with his wife and children.
Should he change his mind or decide on a run in the future, he shouldn't count on name recognition alone: Mitt Romney lost Massachusetts by 23 points to Obama in last year's election.
GOP bigwigs are interested in more than one Romney. According to the Herald report, Republican brass are also inquiring about the possibility that Tagg's mother and Mitt's wife Ann would run for the seat. They're faced with presenting a formidable Republican challenger to Democratic Reps. Ed Markey and Stephen Lynch, who have both announced their candidacy for the April election. Markey is currently seen as the favorite in that contest. He's already received Kerry's, Kennedy's and former Rep. Barney Frank's (D-Mass.) support.
Republicans had high hopes that Brown would take another crack at the Senate after losing his seat to Democrat Elizabeth Warren last November, but the former National Guardsman opted not to run, citing wariness about a partisan Congress and the exhaustion of running a third Senate campaign in four years. Some speculate he's resting his legs for a gubernatorial run in 2014.
High profile Republicans Richard Tisei, the former Mass. Sen. Minority Leader, and William Weld — who was governor of Massachusetts from 1991 to 1997 — have also withdrawn their names from contention.
MSN News on Facebook and Twitter
Stay up to date on breaking news and current events.
Friend us on Facebook: www.facebook.com/news.msn
Follow us on Twitter: www.twitter.com/msnnews