Brian Sullivan is not running for governor. If that news sounds familiar, it’s because the conservative businessman initially announced that he’d be sitting out the 2010 contest in June during an appearance on Minnesota Public Radio.

But in recent weeks speculation has grown that Sullivan, a Republican National Committee member, was reconsidering a shot at the GOP nomination. He lost out to Tim Pawlenty in a grueling endorsement battle in 2002 and would clearly be a serious contender for the party’s nod. However, Sullivan’s staying on the sidelines after again considering the race, according to a press release issued today:

“In June, I announced that I would not run for governor in 2010. However, in the following months, I received many requests from Republican activists to reconsider that decision. As a result, two weeks ago I asked some friends to sound out the opinions of party leaders about the possibility of my candidacy and to understand the challenges of a late entry into the race. Though I received much gratifying encouragement to run, I concluded that my business obligations would prevent me from dedicating the time needed to run an effective campaign. Accordingly, I will not reconsider my previous decision, and I will not be a candidate for governor next year.”

Sullivan also stated that he would back whichever candidate receives the GOP endorsement.