WISCONSIN (CBS 58) -- Less than three months after he entered the Republican race for Wisconsin governor, businessman and former Navy SEAL Bill Berrien is dropping out.

Berrien made the announcement in a long statement Friday, saying he does not believe he has a path to the nomination and for the good of the party, the voters, his donors and his family, he is withdrawing.

Berrien's announcement comes days after online reports that claimed he was following a transgender porn star and other sexually explicit material. 

Berrien said those reports were "clearly targeted to force me out of this governor's race."

You can read his statement in full below:

“After hunting down war criminals in Bosnia as a Navy SEAL Platoon Leader, I had no idea that running for political office could be almost as dangerous. Eleven weeks ago, I launched my campaign for Governor with a dream for making this The Wisconsin Century, starting this decade. Today, I choose to end it on my terms.

As I entered this race for Governor 11 weeks ago, I saw an amazing opportunity for us to turn our state around after six years of being stuck in the economic doldrums under Tony Evers’ leadership. Based on my experiences as a manufacturing leader, I saw the opportunity to make Wisconsin the manufacturing powerhouse to the world again (with wages doubling every ten years) and to make education (including a reinvigorated focus on the trades) and training both excellent and lifelong so workers could thrive in this new economy. I thought that by applying a business mindset to spending, budgeting, and cutting taxes, we could make Wisconsin a better place to build and grow businesses, attract investment, and allow families to prosper.

And yet, as my campaign was gaining traction and emboldened by that optimistic vision, the Milwaukee Journal Sentinel published this week two articles clearly targeted to force me out of the race. I consider myself very intellectually curious and, as a leader in business and hoped-for leader in politics, I thought it was a strength to read very widely and show a broad intellectual interest. I listen to podcasts every day on my way to work. I am constantly trying to take in new information, trying to learn something new. I follow over 5,000 people across so many platforms. I subscribe to over 100 newsletters. And I have hit the ‘like’ button on perhaps 20,000 different articles or postings. Yet the media cherry-picked a handful of individuals and written articles that came across my feed that I then followed (without the faintest clue as to an author’s lifestyle choices!) 6 or 7 years ago, and painted a salacious and sensational picture that was clearly targeted to force me out of this governor race. It was a major attack piece, and we confirmed opposition research started in January of this year, if not earlier.

And for what? For reading! Nothing illegal, nothing unethical, and nothing immoral. Just reading. Wouldn’t you want your political and business leaders (and all of society, frankly) to be widely read and thoughtful and aware of different perspectives and ideas? Yet, when a supposedly major metropolitan newspaper condemns someone for reading, we have ourselves a problem.

Come on, Wisconsin. We can do better in our politics here. Let’s focus on the big ideas, the bright future that is so possible. Let’s get away from these personal and politically targeted attacks.

As a result of our politics today, I cannot focus on the issues I know will turn Wisconsin around. I have come to the conclusion I do not have a path to the nomination. Looking towards what is in the best interest of the party, voters, donors, and my family, I have decided to end my campaign. I plan to use funds from my Never Out Of The Fight PAC to help support the Republican team in Wisconsin. Otherwise, I’m returning to the private sector, where I can continue working on efforts to reindustrialize the country – starting in Wisconsin – and working on mechanisms to help industries upskill our workforce continuously to meet the opportunities and challenges of the future.

As I close out this campaign, I am most grateful to my family for their support and sacrifice, and to my donors, supporters, and team for their support, counsel, and encouragement. You were awesome, and I am so thankful for you. And to all the GOP membership whom I met across the state, I loved your questions and your passion. Keep it up. The energy surrounding Republican ideas is electric going into this critically important election year, and I am highly optimistic that we will win the governorship and expand our majorities in the legislature.

As Teddy Roosevelt said, the credit belongs to those who are actually in the arena. I admire those who are willing to put their hat into the ring, and I wish Tom Tiffany, Josh Schoemann, and any other Republican who decides to run for Governor of our great state all the best. We need you to succeed, to do well, and to win. It’s our common goal to beat Democrats, win the race, and make Wisconsin the best place to raise a family and grow a business.”