A CHESHIRE MP given odds of 200/1 to become the next Conservative Party leader has ruled out a bid for the role.
BoyleSports had given Tatton MP Esther McVey an outside chance of replacing Boris Johnson following his resignation on Thursday.
The bookmakers currently list Ben Wallace as the favourite to become the next Tory leader, with his odds being cut to 9/4 from 8/1.
Other selected odds include: Rishi Sunak at 4/1, Penny Mordaunt at 5/1, Liz Truss at 7/1, Sajid Javid at 9/1, Dominic Raab at 14/1 and Michael Gove at 33/1.
Ms McVey, who described the events of the past few days as a tragic farce, has now officially ruled herself out.
She said: "I will not be standing for the leadership of the Conservative Party this time.
"I made clear in my earlier statement to the Guardian that I’d want the next leader to deliver on true Conservative values and I will make my decision on who I believe will be the best person to unite and lead the country and the Conservative party at this challenging time."
Sarah Kinsella, a spokesperson for BoyleSports, said: "It’s all happening at Number 10 with Boris Johnson announcing he is going to resign as Prime Minister.
"He will stay in place until a new Tory leader is confirmed and that could be Ben Wallace.
"He is the new favourite now at 9/4 from 8/1 while Steve Baker attracted support for the first time and is 16/1 from 40/1.
"We expect to see plenty more changes in the betting over the coming days and weeks."
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