Former Mayor Rudolph Giuliani endorsed former Long Island Congressman Rick Lazio for governor in Midtown Tuesday afternoon, making it official that Giuliani himself will not be seeking office in 2010.

"Rick, you have my wholehearted endorsement, and anything you want, I'm right there," said Giuliani to Lazio.

Citing Lazio's experience in the financial sector, Giuliani said that he made his decision around Thanksgiving and thought the Long Island Republican would help create jobs and improve the state's economy.

Giuliani said he would have "enjoyed" running for public office, but that he has a lot of commitments to his law firm and to his consulting business Giuliani Partners, which just received a contract for the Rio de Janiero Olympics.

He did say that in his spare time he would campaign on behalf of Lazio and other Republican candidates.

"This is a decision about 2010 and what I can and cannot do in 2010," said Giuliani, who did not run out any future runs for political office.

He also said that he will make his endorsement for the 2010 senatorial race in the future, but said that former Governor George Pataki and Long Island Representative Peter King would be good potential candidates.

Lazio announced his intention to run for governor in September.

Governor David Paterson, who wants to secure the Democratic gubernatorial nomination next year, was trailing Giuliani in polls but is polling about even with Lazio.

The governor's low approval ratings have prompted many in the Democratic Party, including the Obama administration, to push for Paterson to step aside and let State Attorney General Andrew Cuomo run for governor.

Giuliani ran for president in 2008 in a campaign that only won one Republican delegate and racked up $3.6 million in debt. He said today that he still owes more than $1 million.

In 2000, Giuliani dropped out the U.S. Senate race after being diagnosed with prostate cancer. Lazio ran and lost to now-Secretary of State Hillary Clinton.