Rishi Sunak has emerged as the favorite to become the next prime minister of the UK after the former holder of the top post, boris johnson, withdrawn out of the race On Sunday.

What happened: Johnson said over the weekend: “I think I have a lot to offer but I’m afraid this is just not the right time.” reported Reuters.

The former British leader said he had secured the support of 102 MPs but had failed to persuade Sunak or his opponent Penny Mordaunt to join forces in the “national interest”, according to the report.

See also: Salat prays for Britain: Liz Truss resigns, holds 4.1 Scaramuccis

Why it matters: Johnson’s dropping his bid for prime minister likely paves the way for 42-year-old Sunak to become Britain’s next leader, Reuters noted.

The rules dictate that a candidate must secure the support of 100 Conservative lawmakers to be appointed prime minister.

Sunak, a former Johnson-era Treasury Secretary, is being replaced Lizz Trusswho resigned last Thursday after being in power shortest time ever.