Vincent Viola, the billionaire owner of the Florida Panthers and President Trump's nominee for secretary of the Army, withdrew his nomination Friday night citing difficulties in divesting himself from his businesses.

A Pentagon spokesman, Navy Capt. Jeff Davis, said Defense Secretary James Mattis is "disappointed but understands and respects Mr. Viola's decision" and believes Viola "will remain a stalwart supporter of America's soldiers." Mattis, Davis added, "will recommend to the President another candidate soon."