Rick Caruso is not running for mayor of Los Angeles

LOS ANGELES (KABC) -- With just days before the deadline to file paperwork to formally run for Los Angeles mayor, the field of candidates remains in flux. The latest move in the race came Thursday with billionaire developer Rick Caruso revealing that he will not run for mayor.

"Rick is incredibly moved by the outpouring of support but reached an earlier decision in a thoughtful process and it stands. He will not be a candidate for mayor," Caruso's spokesperson said in a statement.

Earlier in the day, former LAUSD Superintendent Austin Beutner announced he is no longer running to become the city's next mayor. It comes after the death of his 22-year-old daughter last month.

Meanwhile, Mayor Karen Bass is denying a report from the Los Angeles Times that claims she ordered the watering down of an after-action report that detailed alleged failings of the Los Angeles Fire Department during the deadly Palisades Fire.

"There was absolutely no cover-up," she said.

Caruso had been reconsidering his decision not to run for political office following the Times' report on Bass, but on Thursday afternoon, he made it official that he will not join the race.

L.A. County Supervisor Lindsey Horvath is reportedly considering a run for the mayor's office as well. The deadline to file a declaration of intention for the June primary election is noon Saturday.

The primary election is on June 2. So far, candidates who will challenge Bass include Democratic socialist Rae Huang and reality TV star Spencer Pratt.