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The third-party group couldn't find a candidate to run as an alternative to Joe Biden and Donald Trump in November's presidential election.
The former New Jersey governor says it's not a feasible effort to beat Trump that way.
Republican Geoff Duncan, the former lieutenant governor of Georgia and a critic of Donald Trump, passed on a third-party presidential bid with the group.
The decision comes after Super Tuesday all but confirmed a November showdown between President Joe Biden and former President Donald Trump.
WHAT'S HAPPENING
The third-party presidential movement No Labels is expected to move this week toward fielding a presidential candidate in the November election.
The former New Jersey governor dropped out of the Republican primary contest in early January, ahead of the Iowa caucuses.
But the Minnesota congressman said voting for him in the Democratic primary could make the question moot.
The centrist group has not revealed its donors as it prepares to back a third-party bid for the presidency.
The former governor of Maryland has been a vocal critic of former President Donald Trump.
“A Republican and an independent? I think that's certainly possible,” said a leader of the centrist political group that's fielding concerns it could help Trump win.