Gavin Newsom, the mayor of San Francisco, has withdrawn from the 2010 California governor's race, citing professional and family obligations. "This is not an easy decision," he said in a statement Friday afternoon. "But it is one made with the best intentions for my wife, my daughter, the residents of the city and county of San Francisco, and California Democrats."

According to the Los Angles Times, the 42-year-old Newsom has repeatedly told friends he "did not want to embarrass himself" in the race. Despite having been in the race informally for more than a year, and formally since April, his poll numbers and fundraising never rose to the level of a top-tier candidate. An October poll showed California Attorney General Jerry Brown ahead of Newsom by 20 points, despite the fact that Brown has not yet officially declared his candidacy.

Since becoming mayor in 2004, Newsom had been seen as a rising star on the national Democratic scene. As mayor, he has pushed liberal policies, including legalizing gay marriage and maintaining San Francisco as a sanctuary city for illegal immigrants. He was re-elected in 2008.

After his first marriage to Fox News contributor Kimberly Guilfoyle, Newsom remarried and recently had a daughter with his wife, Jennifer, in September.

Without Newsom in the race, the two highest profile candidates remaining are Republican Meg Whitman and Brown, who has also outperformed his Democratic rival in the money race.

Newsom's full statement is below:

It is with great regret I announce today that I am withdrawing from the race for governor of California. With a young family and responsibilities at city hall, I have found it impossible to commit the time required to complete this effort the way it needs to -- and should be -- done.

This is not an easy decision. But it is one made with the best intentions for my wife, my daughter, the residents of the city and county of San Francisco, and California Democrats.

When I embarked on this campaign in April, my goal was to engage thousands and thousands of Californians dedicated to reforming our broken system and bringing change to Sacramento.

I would like to thank those supporters, volunteers, and donors who have worked so hard on my behalf. I have been humbled by their support and am indebted to their efforts. They represent the spirit of change and determination essential to putting California back on the right track.

I will continue to fight for change and the causes and issues for which I care deeply -- universal health care, a cleaner environment, and a green economy for our families, better education for our children, and, of course, equal rights under the law for all citizens.