Hugh Hewitt has the text of remarks Mitt Romney will be making to his supporters shortly:

“After putting considerable thought into making another run for president, I’ve decided it is best to give other leaders in the Party the opportunity to become our next nominee.”

“I believe that one of our next generation of Republican leaders, one who may not be as well known as I am today, one who has not yet taken their message across the country, one who is just getting started, may well emerge as being better able to defeat the Democrat nominee. In fact, I expect and hope that to be the case.”

New York Times: “By not pursuing a third White House bid, Mr. Romney frees up scores of donors and operatives who had been awaiting his decision, and creates space for other potential center-right candidates such as Jeb Bush.”

First Read: “No one knows for sure what Romney will announce, but the hunch coming from Romney World is that the former Massachusetts governor is going to give it another try. But here’s why Romney has to make up his mind now: The ground underneath his feet is already beginning to crumble. Just yesterday, we learned that Romney’s top Iowa strategist in 2008 and 2012 — David Kochel — is set to be Jeb Bush’s campaign manager. We also learned, via the AP, that some of Romney’s past donors are jumping aboard the Jeb Train.”

“And get this: We can tell you that folks whom Romney has invited on this call are already planning to work for Bush. (Remember, a lot of these people have been connected to the Bush World longer than to Romney.) So if Romney is going to do this, he needs to make a clear statement ASAP (and don’t be surprised if it comes in the form of a PAC or other committee). It’s not too dissimilar for what Jeb had to do a couple of months ago: convince skeptical politicos and donors that you’re actually in the race.”

Sources tell the Daily Beast that Romney will announce that he’s running for president again.

Mitt Romney is expected to tell supporters whether he’ll run for president again in an 11am ET conference call.

Mark Halperin: “Those who have been helping Romney make up his mind say there are three factors in favor of a run, and two factors against. The main rationale on the ‘go’ side is Mitt and Ann Romney’s strongly held conviction that no one in the current field would make a better president… The second factor driving Romney towards another run, say those familiar with his thinking, is a host of emphatically encouraging poll results. There is ample public polling that suggests leads in the early voting states of Iowa, New Hampshire, South Carolina, and Nevada, as well as nationally.”

“Nevertheless, the opposite side of the 2016 balance sheet contains some grim realities. The Romney clan is only too aware of the toll a presidential run would take, with physical, emotional, and psychic stresses barreling down directly upon Mitt and Ann and spilling onto family and friends around the country. While to the Romneys the call to service rings loud and true, the prospect is daunting to the entire family.”