Former Alaska governor Sarah Palin will not be adding her name to the pool of candidates running for U.S. president in 2012, according to reports. In a statement provided to the Mark Levin radio show, Palin said, “I have decided that I will not be seeking the 2012 GOP nomination for president of the United States.”

In the statement, read on air by Levin, Palin went on to say that she and her husband, Todd, had considered the matter and decided that not competing for the nomination was the best move for their family.

“My decision is based upon a review of what common-sense conservatives and independents have accomplished, especially over the last year. I believe that at this time, I can be more effective in a decisive role to help elect other true public servants to office, from the nation’s governors and congressional seats to the presidency.”

After Levin read the statement, he spoke with Palin via telephone — and asked her if perhaps her decision leaves open the possibility that she would seek a third-party nomination.

But Palin dispelled that idea, saying, “I would assume that a third party would just guarantee Obama’s election, and that’s the last thing that our republic can afford.”

We’ll have more updates and reaction about this news.

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