Pittsburgh Mayor Luke Ravenstahl announced in a press conference this morning that he will not seek re-election.

The grueling demands of this office are difficult to describe,” Ravenstahl told an audience of reporters and staff members at City Hall this morning. After a careful and considerable amount of thought I have decided that that price has become too great to endure. As a result, I’m dropping my bid for re-election. I do so without any reservation and with a clear mind.”

The mayor said he will complete the remaining 10 months of his current term. He denied that the current investigation of the Pittsburgh Police Department was the main motive for his choice to drop out of the mayoral race, adding that he hasnt spoken with federal investigators about the investigation this week.

The Pittsburgh Police Department is currently embroiled in an FBI investigation into whether police were depositing money into and withdrawing money from inappropriate accounts. Last week, Ravenstahls former bodyguard accused the mayor of involvement in the inappropriate accounts, according to The Pittsburgh Post-Gazette.

Many will speculate about my motives and conclude that the investigation is my reason for today, Ravenstahl said. It’s not. I’ve done nothing wrong. That will be proven over time.”

Additionally, he defended the Pittsburgh Police Department, saying that he didnt consider it a dysfunctional system, and that his staff will release records to the media clearing him and his office of any wrongdoing.

Speculation that Ravenstahl would announce his intention to not seek re-election reached a fever pitch yesterday after the mayor missed several events this past week. Several individuals close to Ravenstahl also relayed to the press yesterday suspicions about the mayors intention to leave the race.

The mayor had officially announced his bid for re-election only about a week ago, on Feb. 20 at a rally held at his campaign headquarters in the Strip District. Ravenstahl said he will consult with his campaign contributors to decide how the funds he had collected for his campaign so far should be used.

Ravenstahl spent a significant part of this mornings announcement recounting his successes in Pittsburghs municipal government.

Ten years ago this month I began the journey that has led me to where I stand today. I was an ambitious and energized 23-year-old determined to make his neighborhood and city better.”

Among the accomplishments that Ravenstahl recounted from his time in office were the employment of more people in Pittsburgh today than ever before, a growing population for the city, improvements to Pittsburghs neighborhoods and the success of the Pittsburgh Promise, a college-scholarship program for graduates of Pittsburgh Public Schools.

Ravenstahl said that his next job will be as a volunteer tee ball coach for his sons team, but that he has no other job lined up.

“I have no clue what I’ll do in January, he said.

Ravenstahl noted that his decision to renounce his candidacy changes the makeup of his terms remainder.

The ability to make decisions now without having to run for re-election is a good feeling. It may allow us to do some things that are perhaps bolder than what somebody who has to run for re-election might consider, he said.

Mayoral candidate Bill Peduto released a statement during the press conference in which he said, I understand how difficult of a decision this was and would like to extend our sincere best wishes to Luke Ravenstahl and his family.

Fellow candidate and City Controller Michael Lamb also released a statement subsequent to the press conference. I understand this was a difficult decision for Mayor Ravenstahl to make today, Lamb said. I respect the choice he has made and wish the best for the Ravenstahl family.

The mayoral primary will take place in May, with the general election scheduled for November.

As part of his announcement, Ravenstahl took a page out of former Pittsburgh Steelers Head Coach Bill Cowhers playbook, paralleling a quote Cowher made at his retirement from football.

Thanks to the people of Pittsburgh, I can proudly say that this North Side boy has lived his dream, Ravenstahl said.