New York City Mayor Eric Adams, pictured speaking at a reelection campaign event on the steps of City Hall in New York City in June, on Sunday announced he is ending his campaign. File Photo by John Angelillo/UPI | License Photo

Sept. 28 (UPI) -- New York City Mayor Eric Adams announced Sunday that he will abandon his re-election bid just five weeks before the election after a federal bribery indictment and the Campaign Finance Board's decision to withhold millions in public matching funds.

Adams made the announcement with a nearly nine-minute video posted to social media that began with Frank Sinatra's "My Way." He did not make any endorsements in the video.

His name will remain on the ballot in November, but his departure leaves the election to three main challengers, Democratic Socialist Zohran Mamdani, perennial Republican candidate Curtis Sliwa and Andrew Cuomo, a Democrat running independently after allegations of sexual misconduct led to his 2021 resignation as governor.

"Despite all we've achieved, I cannot continue my re-election campaign," Adams said. "The constant media speculation about my future and the campaign finance board's decision to withhold millions of dollars have undermined my ability to raise the funds needed for a serious campaign."