The Koch Network has announced the suspension of its financial support for former South Carolina Gov. Nikki Haley's presidential campaign after months of collaboration.

The Sunday announcement comes after the former ambassador to the United Nations' latest defeat in the South Carolina primary against former United States President Donald Trump. The group, known as Americans for Prosperity Action, spent tens of millions of dollars supporting Haley.

Koch Network Suspends Financial Support for Nikki Haley

The group made efforts to elevate the former South Carolina governor and prevent Trump's renomination as the GOP's presidential candidate. However, it had already slowed its spending in the GOP race dramatically after Haley lost the New Hampshire primary last month.

In its announcement, the group said that given the challenges in the primary states ahead, they do not believe that any outside group will be able to make any material difference to widen Haley's path to victory. The email announcement was made by the chief executive of the group, Emily Seidel, as per the New York Times.

Seidel also wrote that the group has chosen to now focus its attention on House and Senate races. She added that the conservative organization remained concerned about the political aftershocks of Trump winning the GOP nomination.

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She also said that if the former president is at the top of the Republican ticket, the risk of one-party rule by a Democratic Party captured by the progressive left is severe. Seidel also described how the last three elections had shown what people can expect from voters who consistently reject Trump as well as his impact on the GOP brand.

On the other hand, Haley's campaign announced that it was able to raise $1 million in less than 24 hours since polls closed in South Carolina on Saturday. The former South Carolina governor has vowed to stay in the presidential race through Super Tuesday, which is scheduled for Mar. 5.

Going Against Donald Trump

The latest announcement comes as the Americans for Prosperity Action's endorsement of Haley in November last year was a significant boost to the presidential hopeful's campaign. She branded herself as the leading alternative to the former president, according to CNN.

The Koch Network group, committed to supporting a single contender in the GOP presidential primary for the first time in history. The group deployed its vast resources and standing army of activists on behalf of Haley.

However, despite the GOP nomination having whittled down to only Trump against Haley, the former president has remained largely the favorite. Seidel also emphasized that AFP Action is still supporting the former South Carolina governor despite no longer providing any form of financial assistance.

In a Sunday statement, Haley's campaign said that the AFP is a great organization and ally in the fight for freedom and conservative government. It added that the former South Carolina governor was expressing her gratitude to the group for its tremendous help in the 2024 presidential race.

So far, the AFP has endorsed five candidates running for Senate and 19 candidates running for House seats. Seidel said that it was time to take stock of where they are and make sure that they are optimizing their resources, said CNBC.

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