Romney Quits Campaign, Accepts $1 Billion Offer to Rule Monaco

WASHINGTON, June 27 -- Mitt Romney officially ended his presidential campaign this evening, telling reporters in an impromptu press conference in a Los Angeles hotel room that he had accepted a $1 billion offer to rule the Mediterranean city-state of Monaco.

"I know you all had high hopes for me," Romney said. "And I feel bad for my supporters, my fans. But the things Monaco has done for me, for my family, for my chances of winning - I wish America had made a better offer. But they didn't. And that's okay. And we have to move forward now."

Romney added that he would continue fighting for causes he believes in.

"I am ending my campaign, but I am not ending my fight for the right of every person in America to have dreams," Romney said. "Here's a funny story: A lot of people I've met traveling around this great country of ours, a lot of them said they dream about being like me. Can you believe that? And they should have that right. People should keep dreaming."

Romney aides told reporters that the $1 billion Monaco contract is for a presidential term of four years. It includes a signing bonus of $200 million, as well as several incentive clauses that could see Romney taking actual earnings of as much as $1.8 billion if he reaches ceratin economic goals by the end of the term. Most of the former governor's financial team are on their way to China already.

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