Jerusalem (CNN) A third Israeli election within 12 months now appears more likely after former IDF Chief of Staff Benny Gantz also failed to form a government.

Gantz returned the mandate to Israel's President Wednesday evening, a spokesman for his Blue and White party told CNN, after 28 days of negotiations to form a coalition proved unsuccessful.

Following the failure of both Gantz and Netanyahu to form a government, Israel is now in unprecedented political territory. For the first time in the country's history, Israel now enters a 21-day period where any of the 120 members of Knesset who can muster a majority of 61 signatures can form a government and be Prime Minister.

Earlier Wednesday, political kingmaker Avigdor Liberman refused to back either Prime Minister Benjamin Netanyahu or Gantz, leaving both without the seats necessary to form a coalition.

Former defense minister Liberman blamed both men for their failure to compromise in order to reach a unity government before a midnight Wednesday deadline expires for Gantz to form a government.

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