Rudy Giuliani
© Getty ImagesRudi Giuliani
Rudy Giuliani has withdrawn his name from consideration for any position in the upcoming Trump administration, the former New York City mayor announced Friday.

Giuliani at one point was considered the favorite to be secretary of state.

The announcement of the withdrawal came just hours after CNN reported he was no longer a serious contender for the post.

"I decided that the whole thing was becoming kind of very confusing and very difficult for the president-elect. My desire to be in the Cabinet was great — but it wasn't that great," said Giuliani.

According to the Trump campaign, Giuliani notified the president-elect that he wanted to remain in the private sector during a meeting on Nov. 29.

"I joined the campaign because I love my country and because having known Donald Trump as a friend for 28 years and observing what he has been able to accomplish, I had no doubt he would be a great President," Giuliani said in a statement released by the transition team.

"This is not about me; it is about what is best for the country and the new administration. Before I joined the campaign I was very involved and fulfilled by my work with my law firm and consulting firm, and I will continue that work with even more enthusiasm. From the vantage point of the private sector, I look forward to helping the President-elect in any way he deems necessary and appropriate," he added.

The president-elect, a longtime friend of Giuliani's, lavished praise on one of his most loyal supporters.

"Rudy Giuliani is an extraordinarily talented and patriotic American. I will always be appreciative of his 24/7 dedication to our campaign after I won the primaries and for his extremely wise counsel. He is and continues to be a close personal friend, and as appropriate, I will call upon him for advice and can see an important place for him in the administration at a later date," Trump said in a statement.

"Rudy would have been an outstanding member of the Cabinet in several roles, but I fully respect and understand his reasons for remaining in the private sector," the added.

Giuliani said the campaign is down to the last two, three or four finalists for the secretary-of-state spot.

The former mayor said he hoped Mitt Romney wouldn't be one of them.

"My advice would be Mitt went a little too far" in blasting Trump.

Giuliani will stay on the Trump transition team as vice chairman.