An MP facing deselection after being criticised over his role in a loan to a football club will not stand for re-election.
David Mackintosh, Conservative MP for Northampton South, announced his decision ahead of a local party meeting where his candidacy was expected to be opposed.
The BBC reported millions of pounds of public money loaned to Northampton Town FC appeared to have vanished.
The MP has denied any wrongdoing.
Mr Mackintosh was criticised over the loan to Northampton Town Football Club from the borough council – when he was leader – to rebuild Sixfields stadium and develop nearby land.
About £10.25m of that money is now missing and the loan is subject to a police investigation into “alleged financial irregularities”.
The football stand remains half built.
When contacted by the BBC last week, a majority of his party’s local executive council said they would vote to deselect him.
Mr Mackintosh had previously said he intended to stand for re-election.
But in a statement, he said: “It has been a huge honour to be the member of Parliament since 2015, but I now feel it is the right time for my constituents to have a new representative.”
Northampton Town loan: MP David Mackintosh to stand down}