Former Sen. Evan Bayh (D-IN) will announce a bid for Senate on Monday and replace the current Democratic nominee in the race, Baron Hill, CNN reported Monday morning, citing an unnamed source.

Hill, who already won the Democratic primary, announced Monday morning that he that he is dropping out of the race.

“While our campaign had been making great progress and building momentum all over Indiana, it is simply not enough to fight back against the slew of out-of-state, special interest and dark money that is certain to come our way between now and November,” Hill said in a statement.

“Democrats have a very real chance at winning this Senate seat, especially with a strong nominee who has the money, name identification and resources to win,” he continued. “I do not want to stand in the way of Democrats winning Indiana and the U.S. Senate. That would not be fair to my party or my state. And, the stakes are far too high in this election not to put my country above my own political ambitions.”

Once on the ballot, Bayh will run against Rep. Todd Young (R-IN) to fill an open seat left by Sen. Dan Coats (R-IN).

Bayh suddenly left the Senate race in 2010 after winning the nomination. When he decided to leave, the senator criticized Senate gridlock and inaction and called for significant reform and better relationships across the aisle in a New York Times editorial.

Democrats have been heavily recruiting Bayh to run for the seat, in part because he had $10 million in a campaign account when he retired, according to CNN. Bayh currently works for the lobbying firm McGuire Woods and serves on the board of several companies.