Controversial businessman Leo Molloy says he will be back for another tilt at the mayoralty in 2025.

In a press conference this afternoon, Molloy blamed several factors for his 11th hour decision to drop out of the Auckland mayoral race.

But he also warned he'd be back. "I've not died, I'll run again in 2025."

Molloy bowed out this morning - a few hours before a 12pm cut off at which time candidates can no longer enter or pull out of the race.

The publican said a poll released last night wasn't as attractive as previous polls.

He said he couldn't guarantee if he had left his name in the ring, he wouldn't be "orchestrating a result" for the left.

The brash hospitality figure, who had defined his campaign by personal attacks on his rivals and a provocative and unrelenting social media presence, had dropped in the polls significantly from a showing of 23 per cent of the vote last month.

Molloy said he was mortified when he saw the result last night. "We just didn't see it coming."

Molloy said he were hoping rival candidate from the right Viv Beck would have "waved the white flag" but she didn't "so we had to make a decision".

On frontrunner Efeso Collins, Molloy said he believed he was the most "reckless and irresponsible" of all the candidates.

Meanwhile, he also indicated he regretted the ill-fated television interview with Guy Williams.

"I wouldn't do Guy Williams again. Nothing against Guy."

Molloy said three years goes by in a flash in his life and it was highly likely he would be back on the radar again.

He said cash was also a factor and they had spent a considerable amount of money.

Earlier Molloy told the Herald.

"Some aspects of my polling are still strong, however there are clear trends emerging that suggest I cannot win – this time. Cowboys don't cry. I'm getting on with my other life as a hospo legend.

"I won't be endorsing another mayoral candidate just yet, but I may do so once I scrutinise their policies in more detail. If I do endorse it'll be a fiscally responsible candidate - not a reckless spender."

Auckland mayoral candidate Leo Molloy billboards as part of the election campaign. Photo / Dean Purcell

Today at noon was also the deadline for candidates to nominate themselves in New Zealand's local government elections in October.

It is unclear whether Molloy officially indicated he was pulling out of the Auckland mayoral race to council authorities - and thereby not be on the ballots - but his statement announcing his exit came at 11.30am today.

"I'm deciding to withdraw immediately and, in doing so, potentially help other candidates - who won't do as good a job as I would have – but at least will be better than the dispiriting status quo we've had under Phil Goff and this Labour mayoralty."

Molloy's decision came shortly after the latest Ratepayers' Alliance-Curia poll showed he had dropped to third place behind businessman Wayne Brown.

Brown is sitting on 18.6 per cent support in the latest poll - still behind frontrunner Efeso Collins on 22.3 per cent.

But Collins had still dipped in this latest poll of 500 Aucklanders - a five-point drop from last month's poll and way short of the 50 per cent support Labour-endorsed mayors Len Brown and Phil Goff secured in each of their two mayoral wins.

Other candidates are Viv Beck on 12.5 per cent and Craig Lord on 7.2 per cent.

Molloy's campaign is also believed to have personally cost him a significant amount of money: with constant social media publicity, electronic billboards around the city and a campaign bus he emblazoned with a large picture of his face and the slogan "Leo Molloy Relentlessly Auckland".

Brown's rise in the poll comes after Molloy's expletive-ridden appearance on Guy Williams' satirical show last month and the loss of two key figures from his campaign team - his chair June McCabe and director of communications Kate Gourdie.

Brown said today that Aucklanders now had a "clear choice" for their next mayor.

"Most Aucklanders know that their council has been underperforming and needs fixing," Brown said, without noting Molloy had dropped out.

"I am the only candidate in the race with the serious track record of running – and fixing – big multibillion-dollar organisations."

Auckland mayoral candidate Wayne Brown during the Meet the Candidates held by the Penrose Business Association. Photo / Greg Bowker

Auckland mayoral candidates Wayne Brown, Viv Beck, Leo Molloy, Efeso Collins, Craig Lord, Gary Brown and Ted Johnston before the Meet the Candidates held by the Penrose Business Association.

Collins also issued a short statement saying he appreciated the enthusiasm Molloy brought to the campaign.

"Regardless of the news today, we are going to continue to be focused on our campaign for creating a more just, sustainable Auckland. But I wish Leo Molloy well and I appreciate the energy and passion he has brought to this race," Collins said.

Beck, who polled fourth in today's poll on 12.5 per cent said she had nothing to add to the news of Molloy's exit.

Auckland Ratepayers' Association spokesman Josh Van Veen claimed the poll confirmed for the third month in a row, most Aucklanders do not want a Labour-endorsed mayor.

"Collins still hasn't galvanised the left and is struggling to crack 25 per cent. Wayne Brown is now the leading anti-establishment candidate.

"Viv Beck [endorsed by National's de facto local government arm Communities and Residents] is really struggling to look viable. An eleventh-hour intervention by National Party power brokers would change the race dramatically. It's time they stepped up," Van Veen said.

Auckland mayoral candidate Efeso Collins during the meet the candidates held by the Penrose Business Association, Ellerslie. Photo / Greg Bowker

In his exit statement, Molloy said "bring on 2025" suggesting he would run again in the next local government elections. The hospitality figure had run Headquarters bar and restaurant in Auckland's Viaduct for many years. That is closing, but Molloy is set to revamp the O'Hagan's Irish pub just a few venues down from Headquarters in the Viaduct marina.

"I have a new restaurant/bar to design and build, and I'm looking forward to concentrating on that project."