A MILLIONAIRE businessman who was expected to win the Hartlepool mayoral race ruled himself out of another election contest last night.

Labour Party member Leo Gillen said he would not be seeking to replace his close friend Peter Mandelson as the town's MP.

Mr Gillen was beaten by football club mascot H'Angus the Monkey, alias Stuart Drummond, in one of the most astonishing election results ever.

Some observers thought the father-of-two would put the disappointment and shock of the 2002 mayoral loss behind him and have another tilt at politics.

But last night he told The Northern Echo: "I have got too many business commitments to even consider it."

Mr Gillen, whose company runs a chain of convenience stores as well as pubs and clubs in Hartlepool, said he would back whichever candidate was selected by Labour.

Only one local member of the party has so far indicated he may run as a possible replacement for Mr Mandelson, who will officially resign in September when Parliament returns after its summer recess.

Mr Mandelson, who was elected in 1992, has been appointed to the £145,000-a-year post of European Commissioner by Prime Minister Tony Blair.

His departure will force a by-election, which is expected to take place on November 4, the same day as a referendum for a regional assembly in the North-East.

Mr Blair's agent, Steve Wallace, leader of the Labour group on Hartlepool Borough Council, has ruled himelf out of the race, as has former council chairman Carl Richardson.

Moss Boddy, a former Labour group leader who lost his seat in June's council elections, has become the only party member to publicly declare an interest in running.

He said: "I will have to give it serious consideration. If I thought I could offer something very positive I would go for it, but if I thought there was someone better, I would support them."

Another former group leader and ex-councillor, Russell Hart, is also being talked about as a possible Labour runner, but he could not be contacted last night to discuss his plans.

The Liberal Democrats are thought to be close to announcing their candidate, and officials of the UK Independence Party are trying to persuade former television chat show host Robert Kilroy-Silk to stand.

Businessman Gus Robinson, who stood as a Conservative in the last general election, is expected to stand again, this time as an independent.