Ed Bailey has withdrawn from Bermuda Cricket Board's (BCB) presidential race, The Royal Gazette can reveal.The MCC member and prominent lawyer has informed the BCB and its affiliates and Sports Minister Glenn Blakeney that he no longer intends to run for the Board's top post.Bailey's decision might have come as a surprise given he had been considered among the favourites to succeed the outgoing Reggie Pearman at the BCB's AGM later this month.In a letter addressed to BCB secretary Cheryl –Ann Mapp, Bailey wrote: “I write with great concern and dismay that the Bermuda Cricket Board management committee has circulated an official notice for an Annual General Meeting scheduled for November 29, 2011 despite the honorable Minister of Sports' ongoing Commission of Inquiry into the affairs of the sport of cricket.“As a club representative and a possible presidential candidate to fill the office which is being vacated by the retiring Reginald Pearman, I take the view as a matter of principle it would be prudent and respectful for the Annual General Meeting to elect a President, Treasurer and other officers to be scheduled after the Commissions' findings have been reported, circulated and discussed by all cricket affiliates with a view of reaching resolutions for the good of the sport.“No doubt it would be beneficial and honourable to receive the Commission's findings with an open mind to be a beacon or compass for the way forward for Bermuda cricket. Our sport of cricket is at a very critical stage and it is very important that all areas which have been identified to have weaknesses must be addressed with measured and informed decisions.“Not withstanding my wish and hope to make a positive contribution to the improvement of cricket to an acceptable level/standard, I profoundly regret after great consideration I have to withdraw from participating in the election process under these circumstances.”Bailey's withdrawing has now reduced the number of candidates vying for the BCB presidency to three.Those still in the race are BCB first vice president Allen Richardson, BCB second vice president Lloyd Fray and former national team skipper Clay Smith.The BCB's AGM will take place at their new headquarters located at Charities House in Paget.