Magnus Carlsen withdraws from Candidates

The purpose of this letter is to inform you of my decision not to take part in the planned Candidate Matches between March and May 2011.

After careful consideration I’ve reached the conclusion that the ongoing 2008–2012 cycle does not represent a system, sufficiently modern and fair, to provide the motivation I need to go through a lengthy process of preparations and matches and to perform at my best.

Full letter on Chessbase