Áras an Uachtaráin, the official residence of the President of Ireland in Dublin's Phoenix Park.Getty Images

Seán Kelly has become the latest person to rule himself out of running for President of Ireland.

The MEP was keeping his options open regarding seeking a nomination from Fine Gael, with his party colleague Mairead McGuinness expected to be the party’s nominee for the upcoming election.

However, like many who were expected to go for the job, Mr. Kelly has become the latest to announce that he won’t be making a bid for the Áras — saying that despite support, he weighed up the pros and cons of the job, ultimately deciding against it.

"I'm very disappointed [not to be going for it] in some respects, because it’s a once in a lifetime opportunity," Mr. Kelly told Morning Ireland on Thursday.

"I had an awful lot of TDs and supporters both in Fine Gael and outside Fine Gael [who] were anxious for me to run and support me, but ultimately I had to make up my own mind.

"I consulted with my family who were 100% behind whatever decision I was willing to take, but I think the best thing is at this point in time to continue the work I’ve been doing in Europe."

When asked why he toyed with the idea just a few weeks ago, Mr. Kelly admitted that he hadn’t made his mind up surrounding a potential bid for the Áras, adding "some days I’d say yes, other days I’d say no."

"It’s obviously the highest political honour you can get in Ireland, but when I look at it deeply it’s largely a ceremonial role," he said for his reasoning against it. "You don’t have that much power and influence, even though you can dress it up whatever way you like, and I like to be involved politically."

Sean Kelly. (RollingNews.ie)

As to whether he’d endorse Mairead McGuinness, who’s now expected to be her party’s nominee, Mr. Kelly said that Ms McGuinness is "a very good candidate," but added "the party now has an opportunity to nominate anyone they wish, and when the nominations close then whoever is nominated, I will be 100% behind them.

"If she’s the candidate for Fine Gael, then I and indeed all Fine Gael people will support her."

Mairead McGuinness. (RollingNews.ie)

Ms. McGuinness is currently the favourite to succeed Michael D Higgins, while Ceann Comhairle Catherine Connolly is also being floated as a potential nominee on a united left-wing position. The bookies have Ms. McGuinness’ odds as evens at the time of writing, while Ms. Connolly’s chances are around 4/1.

Catherine Connolly. (RollingNews.ie)

Sinn Féin leader Mary Lou McDonald, who sensationally did a u-turn from denying she’d run to potentially going for the job, is currently third favourite with odds of 6/1 — while former Taoiseach Bertie Ahern sits at around 9/1 odds.

Mary Lou McDonald. (RollingNews.ie)

Mr. Kelly was just ahead of Mr. Ahern before his announcement on Thursday morning, standing at 8/1 odds of becoming the next President.

Bertie Ahern. (RollingNews.ie)

No one has officially announced their intentions to run for office, with the Presidential election set to take place on a date up to 60 days before the end of President Higgins’ term on November 12, meaning it must be held by November 11.

*This article was originally published on Extra.ie.