On Tuesday, days after failing to receive the GOP endorsement, Simmons acknowledged his campaign was over. While he's leaving his name on the Republican ballot for the Aug. 10 primary, he announced in a New London hotel lobby that he's releasing his staff, stopping the news releases and essentially ending his bid for the Senate.
"We understand the mathematical reality of competing against an opponent with unlimited financial resources, who has already invested over $16.5 million in this campaign, by far more than any other Senate candidate in the country," he said.
McMahon has said she's willing to spend as much as $50 million on the race, money she earned while working as CEO of her family's World Wrestling Entertainment.
"It's an unbelievable amount of dough," Simmons acknowledged during an radio interview on WXLM-FM in New London, shortly before his formal announcement. "And that, I think, has just twisted people into thinking that the money is going to buy the race. And so, what the heck, let's shut it down and let's move forward."