Former Virginia Gov. Terry McAuliffe (D) said Wednesday that he will not join the crowded field vying to win the Democratic presidential nomination in 2020.

The former governor said he will instead focus his efforts on helping the Democratic Party win the majority in the state House and Senate.

"We’ve got issues in Virginia, and I’m concerned about Virginia, and since February we’ve had a lot of problems there," McAuliffe told CNN host Chris Cuomo Chris CuomoCNN's Don Lemon: 'Blow up the entire system' remark taken out of context CNN's Lemon: 'We're going to have to blow up the entire system' if Democrats win back White House, Senate Giuliani criticizes NYC leadership: 'They're killing this city' MORE, referencing recent scandals involving the state's Democratic governor, lieutenant governor and attorney general.

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"We have the opportunity to pick up both the House and Senate. I invested a lot in that state and I love that state. We’ve got to win the House and the Senate in that state.”

McAuliffe said the state's elections later this year will have an outsize impact as lawmakers are set to redraw Virginia's congressional districts.

“The folks that we elect this year, they will be around in 2021 when they redraw all the maps. This election will determine the next 10 years in Virginia,” he said.

McAuliffe was never seen as a leading contender for the nomination, but his decision carries ramifications for the rest of the presidential field because of his deep ties to the Democratic fundraising community.

Throughout his long career in politics, he has established himself as one of the Democratic Party's leading magnates. He is close to both former President Clinton and Hillary Clinton Hillary Diane Rodham ClintonDemocratic groups using Bloomberg money to launch M in Spanish language ads in Florida The Hill's Campaign Report: Presidential polls tighten weeks out from Election Day More than 50 Latino faith leaders endorse Biden MORE, and he served as chairman of the Democratic National Committee before entering electoral politics himself.

His absence from the race means dozens of McAuliffe's longtime friends in the donor and bundler communities are now up for grabs.

McAuliffe had been moving toward a presidential bid for years. As recently as last month, he told friends he was leaning toward entering the race.

He would have been something of a centrist in an increasingly liberal Democratic field, though it was unclear whether there would have been a lane for a centrist, business-friendly, white male Democrat in the race, especially if McAuliffe's friend former Vice President Joe Biden Joe BidenBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Democratic groups using Bloomberg money to launch M in Spanish language ads in Florida Harris faces pivotal moment with Supreme Court battle MORE joined the field.

McAuliffe, however, seemed to suggest that centrist lane could be successful against Trump next year in the crowded Democratic primary field.

“I think most of them beat Trump. I love Joe Biden … But listen, we’re going to have a good, healthy process,” he said.

Updated 10:05 p.m.