Gov. Dannel Malloy announces he will not seek a third term

HARTFORD -- Gov. Dannel Malloy announced this current term will be the last for his administration.

The 61-year-old Democrat formally announced his plans not to run in the 2018 election at a news conference Thursday afternoon at the State Capitol.

"I’ve thought a great deal about the areas my administration has tried to prioritize these past six years," he said. "Throughout our work, we’ve tried to play the long-game for Connecticut, not doing what is politically expedient, but rather what we believe is in the best interests of the people we serve today, and for generations still to come."

The Governor says he made his decision back in August and has since become more sure of the decision.

Malloy's announcement comes as a growing list of potential Democratic and Republican gubernatorial candidates has been forming.

Much of Malloy's tenure as governor has been marked by budget struggles.

He thanked his wife and sons, Lt. Gov. Nancy Wyman, and his staff.

"Serving as Connecticut’s 88th Governor is the honor of my lifetime, second only to being a father and a husband," he said. "It will continue to be an honor as I work hard – as hard as ever – for the remainder of this term."